Insurance Commissioner Urges Insurers to Do More to Cut Comp Rates
California Insurance Commissioner John Garamendi has announced that workers’ compensation insurers in the state have filed rate reductions averaging 14.6 percent for policies incepting on or after July 1, 2005. These latest cuts bring the cumulative rate reduction to 26.78 percent since the massive workers’ compensation reforms of 2003 and 2004.
