 
HealthInsuranceCalifornia >> Worker's Compensation >> Workers Compensation Competitive Rating Competitive rating for workers compensation policies Every insurance company selling worker compensation policies is now required to file with the California Department of Insurance (CDI) with its complete manual which includes . Rate classifications . Rating plans . Rate deviations . Modification factors . All applicable workers compensation rates that would be charged by the insurer The CDI department could only reject the rates submitted once the notice
has been given and a hearing has been held to decide if the continued
use of the rates will tend to impair or bully the solvency of an insurer
or pressure the solvency of an insurer or be apt to create the monopoly
in the market pursuant to section 11732 of the C.I.C. The intent behind
making California a competitive rating state for workers compensation
insurance was to give the employer the benefits of competitive pricing
by insurers. This in turn is expected to cheer employers small and large
to be more careful in improving safety on the job to control losses that
should translate into cheaper insurance.
For more informations on our services contact insurance brokers John Good | Kelly Good |
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