5.2%
The amount of rate increase the California State Compensation of insurance has filed for with its 2011 rates. In addition to the increase, State Fund is expanding the merit rating range for accounts $25,000 and above in premium to -/+ 40 percent to improve State Fund’s ability to price businesses and to compete for those with excellent performance. The company also changed a policy to begin recognizing broker of record letters and pay comissions.
The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) said that its political action committee, InsurPac, distributed more than $1.7 million in the 2010 campaign cycle resulting in a 93 percent congressional victory rate.
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