A California-based insurance company has cut 50 jobs in Colorado Springs since February.
Beau Brown, the president of San Mateo-based California Casualty Group, said the job cuts were following recent rate decreases in both Colorado and California.
He said the company has cuts it auto insurance rates by an average of 6.5% and its homeowners rates by 1.5% in the last year.
The company opened its Colorado Springs office in 1995 and had employed up to 400 people. The cuts will leave 276 staff in the Colorado Springs office.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
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