By Ken Cooper, Director of Risk Strategy, Western Growers Insurance Services
In late July, the California Commissioner of Insurance once again approved a decrease in the workers’ compensation pure premium advisory rates, which are used by insurance carriers to set their rates for coverage. As a result, policyholders are likely to see a decrease in their workers’ compensation premium rates for the seventh year in a row. In fact, the approved rate reduction effective September 1, 2021, is the eleventh overall rate reduction since January 2015.