Why are Work Comp Rates going Up?

February 26th, 2010
California Work Comp rates are being raised by most insurance companies. Business owners are in a position of trying to deal with declining revenues and increasing costs. In many cases, payroll reductions have actually driven the total insurance premium cost down, but the actual rates on the payroll you have left is going up. Once the California economy turns around, and it will turn around, the rate increases insurance companies are getting now will hit you just when your payrolls are rising.
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