Garamendi Lowers Pure Prem. Rate
NU Online News Service, Nov. 7, 3:05 p.m. EST?Responding to the workers' compensation crisis in California, Insurance Commissioner John Garamendi announced he has significantly lowered the advisory pure premium rate by 14.9 percent, returning it to the July 2002 level.
Mr. Garamendi's ruling, based on recommendations from experts, as well as the evidence of savings that can result from the reform legislation signed in September, said the move was to give California employers relief from rising rates.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
