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Industry: Email Alert RSS FeedCalif. rejects steep fee increase for workers' comp
Nation's Restaurant News, Dec 16, 1991
SACRAMENTO, Calif. -- Fearing that a recommended 11.9-percent hike in worker's-compensation insurance rates would drive many companies out of business, the state has refused to grant more than a 1.2-percent increase in the fees.
"These are tough times for businesses, and an increase of 11.9 percent could be the straw that breaks many of their backs," John Garamendi, California's insurance commissioner, said in a prepared statement.
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California's Worker's Compensation Insurance Rating Bureau had recommended that premiums be raised by 11.9 percent to shore up the state's creaky system for compensation injured workers.
COPYRIGHT 1991 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2008 Gale, Cengage Learning
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