NU Online News Service, July 9, 3:49 p.m.EDT
The president of a California insurers' trade group said thestate insurance commissioner, by rejecting a hike in workers'compensation insurance rates, isn't facing facts.
"Our reaction here at the ACIC was that the commissioner'saction appears to be unrealistic," said Sam Sorich, president ofthe Association of California Insurance Companies. "There is clearevidence that costs are increasing and, in fact, the commissioner'sown actuaries recommended, I think, a 13 percent increase in ratesand the commissioner decided to ignore that recommendation."
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