Poizner: No mid-year push to change workers' comp rates - Sacramento Business Journal:

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"I am pleased that stability inthe workers' compensationh insurance marketplace has eliminated the immediate need for a pure premiu rate advisory," California Insurance Commissioner Stevre Poizner said in a news release Workers' comp insurers use the pure premiukm rate advisory as a benchmark for rates. The commissionere does not have the power to set ratews chargedto employers. Pure premiumm rates reflect only the estimatef cost of benefits andinsured loss-adjustment expenses.
They don'g account for other carrier Poizner didn't provide an advisory becaus the organization that advises state regulatorxs onthe workers' comp insurancee market didn't offer one The said in late March that it woulc wait until August to make its annuall rate recommendation, to take effect with new and renewing policiesz effective beginning Jan. 1. It usuallyu recommends mid-year filings when there are major changes inloss experience, legislation or regulation. The bureau said in Marchj that insurers' year-end loss experience for thei Californiaoperations "suggests a modest increase of as much as 4.2 is warranted.
But the group will wait to propose any changwe to take effectstarting Jan. 1. Poiznefr said insurers' loss ratio s data indicates that they could pass more costs savingaonto employers. "I strongly believe there is room for lower comp rates," he said Friday. The pure premiuk rate has cumulatively decreased 65 percent sinceJanuargy 2004.