Garamendi to Pitch California to Firms
Hoping to give the state’s costly workers’ compensation system a jolt of price-cutting competition, Insurance Commissioner John Garamendi said he would meet with about half a dozen insurers to urge them to pump up their share of the California market.
“Right now is the time to pitch California as a very good market for the workers’ compensation industry,” Garamendi said before leaving for a National Assn. of Insurance Commissioners meeting in New York.
He said that while in New York he also will have meetings with five or six insurers that have “finger holds” in the California workers’ comp market but have significantly cut back their business in the state.
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