Based upon information from the workers’ comp rate hearing, which ended a little while ago, the pure premium rate decision to be rendered by California Insurance Commissioner Dave Jones could be more than that which the Bureau asked for.
The Workers’ Compensation Insurance Rating Bureau (WCIRB) faced tough questioning over how its governing committee arrived at the decision to recommend no change in the advisory pure premium rate when all of the actuarial data before it indicted that an increase was necessary.
Insurance Commissioner Dave Jones hammered them on the point that it’s governing board members took just 45 minutes to debate and reject the three months of work that went into the Bureau’s actuarial committee’s finding that a 9.2% increase was needed.
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Jones Appears Set On Rate Increase – How Big Is The Question
