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LIBERTY MUTUAL ANNOUNCES DECREASE IN WORKERS COMP RATE FILING

 LIBERTY MUTUAL ANNOUNCES DECREASE IN WORKERS COMP RATE FILING
 IRVING, Texas, June 24 /PRNewswire/ -- Liberty Mutual Insurance Group announced today that it is cutting the amount of its 1992 workers compensation rate request by up to 15 percent.
 "Liberty Mutual is adjusting its rate filing because substantial evidence now exists that Senate Bill 1 is working as the Legislature intended," William G. Gourley, Irving-based Liberty Mutual Southwest Division senior vice president, stated. "And, in part, because we have witnessed in the last two years the passage of more good reform legislation."
 Gourley noted that, under the workers compensation law enacted in 1991, insurers were required to file new rates by March 1. Liberty Mutual therefore filed for a range of rates in February, on the basis of existing workers compensation information. "Data substantiating the cost savings of the workers compensation reform law have only recently become available," Gourley said. "Our revised filing takes this new information into account.
 "This new filing offers a broader range of rates, which provides more flexibility to Liberty Mutual in serving the marketplace," commented Gourley.
 Gourley also said that "positive legislative reforms such as Senate Bill 1 and House Bill 62 have given Liberty Mutual both continued confidence in the Texas workers compensation system and the ability to file for a competitive range of rates. Although the competitive rating law has been in place for only a few months, we are already beginning to see increased competition in the Texas workers compensation insurance market."
 A Boston-based company, Liberty Mutual is the largest writer of workers compensation insurance in Texas, having generated $414 million in premiums for 1991. It employs 900 people in 22 locations throughout the state. Liberty Mutual has been the leading writer of workers compensation insurance since 1936.
 -0- 6/24/92
 /CONTACT: William G. Gourley, 214-550-7899, or John M. Cusolito, 617-574-5512, of Liberty Mutual/ CO: Liberty Mutual Insurance Group ST: Texas IN: INS SU:


SH -- NE005 -- 3179 06/24/92 09:50 EDT
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Publication:PR Newswire
Date:Jun 24, 1992
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