October 22, 2007 Source:
WorkInjury.com, WCIRB
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WCIRB Says New TD Bill Means New Premium Rate Increase, Hearing Set
Last month we reported (to read that, CLICK HERE) that the Workers' Compensation Insurance Rating Bureau was recommending a "pure premium" rate increase for workers' compensation insurance policies of 4.2%. This would be the Bureau's first recommendation for a rate increase in four years.
Now, after completing its analysis of what the passage of AB 338 will mean, the Bureau has decided that premiums should be raised even higher.
(AB 338 is the bill - just signed into law last week - which extended the total period of time during which the 2-year TD cap can be paid - to read about that bill in our "Legislative Watch" section, CLICK HERE.)
The recommendation now is for a 5.2% pure premium increase and a public hearing on the issue will be held on Tuesday, October 23, 2007, at 9:30 am in the 22nd Floor Hearing Room at 45 Fremont Street, San Francisco, California.
- Help for the Injured Worker
