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.

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