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Workers compensation rate increases 15.88% on average for 23 carriers in August of 2012

Rating Recap August 2012: Many CA work comp carriers change rates
08/13/2012

Several California admitted insurance companies filed new rates with the California Department of Insurance for workers’ compensation policies effective in August 2012.

Revising advisory rates, loss cost multipliers or both has a direct affect on the price policyholders pay for coverage.  Consider how the average rates* that became effective in August 2012 for the selection of issuing companies below compare to the prior policy period:

Issuing Company

Average Rate Eff 8-1-2011

Average Rate Eff 8-1-2012

% Change

American Guarantee & Liability Insurance Company (Zurich)

7.83

9.02

15.20%

American Home Assurance Company (Chartis)

10.48

11.81

12.69%

American Zurich Insurance Company (Zurich)

6.45

7.42

15.04%

AmGUARD Insurance Company

7.69

9.49

23.41%

CastlePoint National Insurance Company (Tower)

8.63

11.45

32.68%

Commerce and Industry Insurance Company (Chartis)

12.05

13.57

12.61%

EastGUARD Insurance Company

7.21

8.72

20.94%

Granite State Insurance Company (Chartis)

11.64

13.12

12.71%

Markel Insurance Company

10.74

11.84

10.24%

National Union Fire Insurance Company of Pittsburgh, PA (Chartis)

10.48

11.81

12.69%

NorGUARD Insurance Company

7.97

9.91

24.34%

Pacific Compensation Insurance Company

11.92

13.65

14.51%

Praetorian Insurance Company (QBE)

16.72

12.83

-23.27%

Preserver Insurance Company

7.87

10.02

27.32%

Public Service Mutual Insurance Company

8.26

9.48

14.77%

SeaBright Insurance Company

11.06

13.14

18.81%

Southern Insurance Company

10.74

12.14

13.04%

SPARTA Insurance Company

9.84

12.01

22.05%

Technology Insurance Company (AmTrust)

10.32

6.97

-32.46%

Tower Select Insurance Company

7.87

10.02

27.32%

Wesco Insurance Company (AmTrust)

7.51

12.04

60.32%

Zurich American Insurance Company (Zurich)

9.22

10.61

15.08%

Zurich American Insurance Company of Illinois  (Zurich)

11.06

12.73

15.10%

*Average rate calculation does not include per capita or per race rates (7707 – Firefighters – volunteers, 7722 – Police, Sheriffs – volunteers, or 8278 – Jockeys).


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