California Insurance Commissioner John Garamendi on yesterdaycalled on workers' compensation insurers to pass on savingsprovided by legislative reforms to policyholders, recommending an18 percent reduction in the pure premium rate.
Changes enacted by the legislature over the past few years havebegun to work, according to the commissioner. "California'sworkers' compensation system costs are no longer on the upescalator, and the cost of claims is on the down elevator in arapid descent," he said.
Mr. Garamendi said he had based his recommendation on anassessment of the workers' compensation system based on hearings heheld, "as well as extensive actuarial analysis of the costs of thesystem."
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