Starting in 1985, a law allowed the State Insurance Department to set rate increases, instead of leaving them up to the companies.
Separately, the State Insurance Department drew up its own recommendations that it said would reduce rates 25 to 35 percent.
Since 1988, the State Insurance Department has allowed average workers' compensation rates to rise by 153.2 percent on a compounded basis.
And late last month, the State Insurance Department announced plans to repeal the prohibition after a 45-day public review period.
The State Insurance Department said it had filed an appeal against the the decision.
But the State Insurance Department said yesterday that most would not lose their insurance.
The State Insurance Department says it has no grounds for intervening.
The State Insurance Department is expected to rule on the rate request next week.
That does not happen, and one would hope that the State Insurance Department were aware of this.
In addition, the State Insurance Department is conducting its own audit, which it does every three years.
Starting in 1985, a law allowed the State Insurance Department to set rate increases, instead of leaving them up to the companies.
Separately, the State Insurance Department drew up its own recommendations that it said would reduce rates 25 to 35 percent.
Since 1988, the State Insurance Department has allowed average workers' compensation rates to rise by 153.2 percent on a compounded basis.
And late last month, the State Insurance Department announced plans to repeal the prohibition after a 45-day public review period.
The State Insurance Department said it had filed an appeal against the the decision.
But the State Insurance Department said yesterday that most would not lose their insurance.
The State Insurance Department says it has no grounds for intervening.
The State Insurance Department is expected to rule on the rate request next week.
That does not happen, and one would hope that the State Insurance Department were aware of this.
In addition, the State Insurance Department is conducting its own audit, which it does every three years.