Calif. WC Rating Bill 'Regulatory Overkill'
NU Online News Service, May 10, 10:45 a.m. EST?A bill working its way through the California Assembly that would give the insurance commissioner greater authority over workers' compensation rates is contrary to the state's open competition rating law and will only serve to hurt competition in the state, according to the Alliance of American Insurers.
AB 1985, sponsored by Tom Calderon, D-Montebello, would, in essence, "switch the current open competition method of setting workers' compensation rates in California to prior approval," said Peter Gorman, vice president of the Alliance's Western Region in San Francisco. "The proposal is regulatory overkill where a few minor adjustments and clarification of existing law would suffice."
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