Workers' Comp Reductions
The California State Compensation Insurance Fund, a government-funded insurer, has proposed a 5 percent reduction in workers’ compensation rates. This is the third rate reduction since the beginning of the year for the company, which insures more than half of the companies in California. The State Fund’s three reductions amount to a 12 percent drop in rates, according to the company, but still fall short of the 22.6 percent reduction called for by California Insurance Commissioner John Garamendi.
