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
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