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Calif. SCIF drops 2007 rates by an average 9%


SAN FRANCISCO--California's State Compensation Insurance Fund has filed 2007 rates that are on average 9% lower than 2006 policies.

The fund on Monday said the filing represents its seventh consecutive rate reduction. Since 2003 its rates have fallen 49%.

In a statement, the fund attributed the rate reductions to workers compensation reforms adopted in 2003 and 2004. It also said that its market share was decreasing "to a more traditional level" but did not elaborate.