The state has given its approval for the largest rate reductions of any US state. California workers compensation insurance rates have received their official approval, reducing them more than any other state in the third quarter. All 10 of the most notable rate reductions within that quarter received state approval. The announcement was initially made by an S&P Global Market Intelligence analysis. These California workers’ compensation rate cuts followed September 1’s reduction of the 1.41 percent pure premium benchmark issued by the state Department of Insurance. The rate reduction that…
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