
What’s Ailing Workers Comp?
October 1, 2003 By LP Gas
Anyone who has recently tried to purchase commercial insurance knows the surprise: Rates have skyrocketed. In simple terms, the commercial insurance industry is in the midst of what is called a "hard market," meaning that the traditional competition-based price-cutting used by carriers to gain new business no longer exists. Instead, the focus is on raising rates to try to rebuild sagging profits.
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