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The state Insurance Commissioner has recommended a 10.5% increase in the pure premium rates for workers’ compensation insurance as of Jan. 1, 2003. The Workers’ Compensation Insurance Rating Bureau had requested a 13.4% increase, but the commissioner questioned some of the bureau’s future cost estimates.
The state Insurance Commissioner has approved a 10.1% premium rate hike for workers’ compensation insurance in response to increases in medical costs that have battered workers’ comp insurers. Although the approved boost is only advisory, increases adopted by the commissioner are frequently used by the industry as a guidepost to set policy prices.
The state Insurance Commissioner has taken over control of Golden Eagle Insurance Co., California’s third largest workers’ compensation carrier. The action grew out of concerns about Golden Eagle’s financial solvency. The Insurance Commissioner is optimistic that several insurers will join together to operate Golden Eagle’s business through a new company, San Diego Casualty Insurance Co. […]