INSURE
Workers’ Compensation Rate Cut Expected: California Insurance Commissioner John Garamendi was expected to announce today a cut in workers’ compensation insurance rates effective in January for employers. The latest rate reduction follows a cut of 7% that took effect in July as part of a reform package adopted by the Legislature. The rate cuts have resulted from a sharp downturn in workers’ compensation claims that began in mid-1992, largely due to a crackdown on bogus cases and the state’s sluggish economy.
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