CA holds Affairs fear rising Workers’ Compensation Insurance prices
A possible new series increases accident insurance for workers is worrying, California entrepreneurs.
Employers have already seen rates for the system up to 77 per cent during the last three years. The Department of Insurance has approved an increase of 10.2 per cent for the month of January and workers of the benefits of health insurance rating Bureau recommends another increase of 10.1 per cent this summer. Prices are also due to increase again in January 2003, pay increases benefits law passed this year.
Despite these increases, the system is still in financial risk, most officers say, and losing ground in its mission for the time medical care, rehabilitation and compensation for workers who are injured “on the job “.
A number of insurers have withdrawn from the market, and eight were declared insolvent and closed in the past two years.
Personal File nearly 1 million requests per year and, currently, 200000 are involved in some disputes.
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