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LIBERTY MUTUAL RESPONDS TO WORKERS COMPENSATION RATE ANNOUNCEMENT

 LIBERTY MUTUAL RESPONDS TO WORKERS COMPENSATION RATE ANNOUNCEMENT
 BOSTON, Oct. 21 /PRNewswire/ -- The following is Liberty Mutual's response to today's workers compensation rate announcement. Gov. Casey's statement regarding today's workers compensation rate announcement "is a transparent attempt to trick the legislature into passing his watered down reform," Gary L. Countryman, chairman and chief executive officer, Liberty Mutual Insurance Company. Liberty Mutual is the second largest private insurer of workers compensation in Pennsylvania.
 "The Governor's action's fly in the face of bipartisan legislative support for the Mellow/Madigan reform bill," said Countryman. "By its own terms, Mellow/Madigan sets aside the pending rate increase, delivers more cost savings and establishes an even more competitive rate making system than Gov. Casey has proposed."
 Over the last five years, Liberty Mutual has lost nearly $100 million writing workers compensation insurance in Pennsylvania. These losses can be directly attributed to rapidly increasing benefit and medical costs, and the failure of the rate setting process to recognize them.
 -0- 10/21/92
 /CONTACT: John M. Cusolito, 617-574-5512, or Margaret L. Sheehan, 617-574-5874/ CO: Liberty Mutual ST: Massachusetts IN: INS SU:


TM -- NE024 -- 3187 10/21/92 18:05 EDT
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Publication:PR Newswire
Date:Oct 21, 1992
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