Advisory - Public hearing on advisory workers’ comp rate benchmark filing
SAN FRANCISCO, Calif. — Insurance Commissioner Dave Jones is holding a public hearing to review the most recent advisory pure premium rate benchmark filing recommended by the Workers’ Compensation Insurance Rating Bureau. The insurance commissioner does not have the authority to set workers' compensation insurance rates. The commissioner will evaluate the costs in the workers' compensation system and issue an advisory pure premium rate benchmark.
WHO: California Insurance Commissioner Dave Jones
WHEN: Friday October 5, 2018
WHERE: California Department of Insurance
45 Fremont Street, 22nd Floor – Hearing Room
San Francisco, CA 94105
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- The purpose of the pure premium benchmark rate process is to review costs in the workers’ compensation insurance system and to confirm rates filed by insurance companies are adequate to cover benefits for injured workers.
- The commissioner evaluates the costs in the workers' compensation system and issues an advisory pure premium rate benchmark. While insurers may use this benchmark, they are not required to follow the recommendation, and may charge rates as they see fit.