Business Services Industry
California comp rates dropping, but stabilizing forces emerging.
Business Insurance, June, 2006 by Ceniceros, Roberto
Byline: ROBERTO CENICEROS SACRAMENTO, Calif.-At its recent workers compensation renewal, SCAN Health Plan got firsthand experience of the softening market for workers comp risks in California. The Long Beach-based Medicare health maintenance organization was offered a guaranteed-cost program from Wausau Insurance Cos.
that came in at $400,000 less than the projected price of the loss-sensitive program that it had with its longtime insurer, St. Paul Travelers Cos. Inc., according to Deborah Shulman, SCAN's director of risk and insurance management. SCAN decided to opt for the cheaper program and enjoy an accelerating trend. More employers are moving to guaranteed-cost programs as pricing drops, said James E. Little, chairman and chief executive officer of...
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