Insurance Commissioner Dave Jones last fall called for California workers’ comp insurers to cut their 2012 pure premium rates by 3% to an average of $2.30 per $100 of payroll. But reports from the field and the rate filings by the carriers themselves indicated that this would not be the case and yesterday afternoon the California Department of Insurance (CDI) confirmed it.
The Department says that instead of a 3% decrease, the average pure premium rate in California is actually up 2.8% from last year. That equates to an average rate of nearly $2.44 per $100 of payroll, according to CDI spokesman Byron Tucker.
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