SACRAMENTO, Calif.?aCalifornia Insurance plan Commissioner Steve Poizner on Friday mentioned he’s rejecting for that third consecutive time a filing submitted on behalf of insurers by the Workers Compensation Insurance plan Rating Bureau, that is looking for a 27.7% fee boost.
Mr. Poizner mentioned inside a statement Once once again, employees compensation insurers have failed to demonstrate that they’ve adopted procedures to control fees or that they’re operating efficiently?-.Even inside a far better financial system, I nonetheless wouldn’t budge on fee raises devoid of the business 1st implementing the efficiencies we now have suggested.?
California’s insurance plan commissioner can only advise insurers to raise or lower their rates; he can’t order them to do so.
Mark Sektnan, vp on the Sacramento, Calif.-based Assn. of California Insurance plan Cos., mentioned in response, ?¡ãWe are disappointed that the commissioner continues to not realize the expense raises which are inherent inside the program. His very own staff suggests that fees have gone up 20.4%, but the commissioner continues to fail to recognize individuals expense raises.?