OTHER NEWS : Employers Get Relief on Workers’ Comp

California employers will get an estimated $50 million to $60 million in extra relief under a workers’ compensation rate decision announced Thursday by Insurance Commissioner John Garamendi. Garamendi’s decision extends the reach of a 7% workers’ compensation rate cut approved by the Legislature. He called for the cut to apply to policies already in force on July 16, when lawmakers acted. Previously, industry officials were unsure whether the reduction would apply to any policies other than those written after mid-July. The 7% cut in the minimum premiums that insurance companies can charge, adopted as part of a broad legislative reform package, has been welcomed by business groups. But not all insured employers will necessarily benefit, because while the reduction gives insurers the freedom to cut their base workers’ compensation rates, it does not require them to do so.