Today State Fund filed its first-ever tiered rating plan with the California Department of Insurance, which will become effective September 1. The new rate structure allows us to improve pricing accuracy for each risk, resulting in rates that fairly reflect the risk characteristics and experience of each business. This tiered pricing broadens our rate range so while premiums will increase for some businesses with high loss experience or higher risk profiles, many more California employers will benefit through lower premiums.
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This blog is intended to share information and generate discussion about workers’ compensation insurance in California and about State Fund’s role in the marketplace.
