Pure Premium Rates Go Way Up for Workers’ Comp. In their usual clueless effort to destroy more business in California, the boobs in Sacramento are at it again.
California Insurance Commissioner Dave Jones’ pure premium rate decision was released Friday night. That was in order to avoid general media attention or scrutiny. It was also issued in a meaningless – to actual people or most general media reporters’ – hyperbole. And that’s too bad because it was a deeper more meaningful decision than most of will realize.
Let’s get to the point: For California businesses with an expiration dates of January 1st or later the actual average overall rate increase is some 15.64%.
This is actually a higher increase than requested by the industry and it’s thought to be the first time in history that this has been done.
For any businesses considering moving to California we say: Welcome to California, now bend forward. For those already here we say: Bend forward, again.