As the Legislature moves closer to agreement on measures to reform California’s broken workers’ compensation system, Insurance Commissioner John Garamendi has scheduled a hearing to assess the potential savings.
The hearing, set for April 29 in San Francisco, will give the commissioner an opportunity to reexamine the impact of the last year’s reforms and update the initial estimate of savings to the workers’ compensation system.
“The ultimate goal is to bring relief to California employers and to ensure the fair treatment of injured workers,” said Garamendi. “This hearing will allow my Department to conduct its examination of relevant information, identify further savings, and reflect them in my July 1st pure premium advisory rate.
“During the public hearing the commissioner will consider the loss costs identified by the Workers’ Compensation Insurance Rating Bureau of California in order to determine the appropriate pure premium rate for insurers. Insurers often use the commissioner’s pure premium advisory rate as a benchmark to set their rates.
The hearing will be held at 9:30 a.m. in the 22nd Floor Hearing Room at 45 Fremont Street, San Francisco.
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