California Insurance Commissioner Steve Poizner will hold a hearing today to receive testimony from the Workers’ Compensation Insurance Rating Bureau (WCIRB) regarding its pure premium rate recommendation. Commissioner Poizner will soon determine the workers’ compensation pure premium rate, which the workers compensation insurance industry uses as a benchmark for filing its rates.
On March 20, 2007, the WCIRB submitted a rate filing to the California Department of Insurance recommending an 11.3 percent decrease in pure premium rates to be effective on policies on or after July 1, 2007.
Poizner has previously stated he supports ongoing workers’ compensation reforms, particularly in their ability to encourage greater competition in the marketplace.
The meeting will be held at 10 a.m. at the California Dept. of Insurance, AHB Hearing Room, 22nd Floor, 45 Fremont Street, San Francisco.
Source: CDI
Was this article valuable?
Here are more articles you may enjoy.
Munich Re: Insured Losses From Wildfires, Storms and Floods Hit Record High 
California Bill Would Require Insurer Claims Handling Plans, And Double Penalties 
JPMorgan Wins Gender Pay Gap Dispute Against London Analyst 
Cyber Breach Affected 750,000 Canadian Investors, Regulator Says 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.