California commissioner approves scaled-down rate hike proposal
The average rates would be $2.49 per $100 payroll, slightly less than the $2.51 proposed by the Workers' Compensation Insurance Rating Bureau.
The WCIRB had cited worsening claim results and lower forecasts for wage growth in California in its April proposal.
The rates approved by the commissioner are advisory since California insurers are free to set their own rates. However, insurers generally consider the commissioner's recommendation.
Read more at the WorkersComp Forum homepage.
June 25, 2012
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