Worker's Comp Rates

Thursday, December 12, 2002

http://www.wightmaninsurance.com

WARNING!! WORKERS' COMP. RATES ARE STILL ON THE RISE!
As predicted AB749 is having a severe impact on the already
distressed Workers Compensation industry and thus California Employers. Over the past two months we have seen even more rate increases and the companies are telling us that it is due to the financial strain of the significant benefit increases to injured workers mandated by AB749.

If it weren't bad enough to see the increases just at renewal many of our companies are implementing MID-TERM RATE INCREASES of between 3% and 6% on in force policies as of 1/1/03 as allowed by the Insurance Commissioner. I know, more bad news, but we feel it's better that you know now rather than be surprised later.

How do we stop the madness? Talk to your elected officials. Call their offices and tell them what you think about these continued rate increases. Call the Department of Insurance and voice your opinion about allowing these mid term increases.

And, we will continue to do all that we can to mitigate your increases by obtaining competitive bids at each renewal!

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