Washington: Department proposes updating rules for premium rates
The Department of Labor and Industries is required by law to establish and maintain a workers' compensation classification plan and to set premium rates that are the lowest necessary to maintain actuarial solvency of the accident and medical aid funds, and are designed to attempt to limit fluctuations in premium rates.
The plan must be consistent with recognized principles of insurance. The department is also required by law to offer retrospective rating plans to employers as a further incentive to encourage workplace safety and prevent employee injury. The department will hold formal public hearings from Oct. 26-29 in Spokane, Kennewick, Bellingham, Tumwater, Tukwila and Vancouver. Those interested in making comments should e-mail Jo Anne Atwood at email@example.com. For more information on the proposed regulation, visit www.lni.wa.gov/rules/AO10/27/1027CR101.pdf.
Read more at the WorkersComp Forum homepage.
September 20, 2010
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