Poizner says no to workers' comp rate increases - Silicon Valley / San Jose Business Journal:

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Poizner’s decision is in stark contrast tothe 23.7 percentr increase recommended by the . “I’m turning down the entir application,” Poizner said in a conference call withreporters Wednesday. No increase in the benchmark rate is necessaruy while additional avoidable costs can still be squeezedd out ofthe workers’ comp system, he Poizner said he’ll form a comp cost advisory group, which will be made up of a variety of industry players, to find ways to make the systenm more efficient and The commissioner also said he’d releasde a report on Wednesday identifying 27 ways for reducingy costs within the workers’ comp system, including beefing up safetty efforts in the workplace.
Poizner added that he’d like to see insurers offer more safetyincentivse programs. “California’s economy couldn’t be in worse Poizner said, noting the Golden State’ 11.5 percent unemployment. Any rate increase wouldx further harmthe state’s he said. Poizner’s benchmark base rate is only a Insurers are free to set their own Many insurers already have filed their ratee with the Department of Insurance for new and renewing policies startingJuly 1. Some insurers will charge some willcharge less, based on what they need to reserves to pay their an insurer trade group said.
“Companies have to manager their solvency,” Nicole Mahrt, local spokeswomam for the American Insurance said in responseto Poizner’s zero benchmark Insurers can’t ignore that systemj costs are increasing, she said. Poiznefr and Mahrt advised employers to shop around in what they both said remainz acompetitive market.