Workers compensation industry recently got shot down for their request of a 28% rate increase – citing higher medical costs and claims frequency on the rise. Steve Poizner, California commissioner, said “NO” for the third consecutive time, stating the industry is not justified due to a lack of legislative procedures ignored. The Workers Compensation Insurance Rating bureau, an industry group, recommends higher rates for insurers due to recent court rulings that grant doctors more room to prescribe expensive treatments for injuries related to the workplace. Governor Arnold Schwarzenegger has been…
Read MoreCalifornia Insurance Commissioner rejects workers compensation rate hike for the third time
