Industry Under-Reserved by $3 Billion

SAN FRANCISCO -- Workers' comp carriers, as a whole in California, are under-reserved by $3 billion for 1997 and 1998 - twice as much as estimated last year: so says the Workers' Compensation Insurance Rating Bureau of California.The under-reserving figure does not take into account reinsurance and deductibles, so the figures may be somewhat inflated. Reinsurance played a more significant role last year in workers' comp than in previous years and so have deductibles during the last few years.The Ra