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Article: INSURANCE COMMISSIONER POIZNER REJECTS INDUSTRY-BACKED REQUEST FOR ANY INCREASE IN WORKERS' COMP COST BENCHMARK

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US Fed News Service, Including US State News
Article date:
July 9, 2009
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SACRAMENTO, Calif., July 8 -- The California Department of Insurance issued the following press release:

Insurance Company Inefficiency Cited; Proposes Changes to Keep Workers' Comp Insurance Rates Affordable To Help Combat Rising Unemployment in California

Citing testimony that self-insured employers have been able to reduce overall workers' compensation costs, Insurance Commissioner Steve Poizner rejected a rate application from the Workers' Compensation Insurance Rating Bureau (WCIRB), an insurer backed group, to raise the Workers' Compensation Claims Cost Benchmark by 23.7 percent.

While the Department of Insurance does not set workers' compensation insurance rates, an increase in the ...

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