The assigned risk market will also likely see a rate hike. The assigned risk rates have been changed from 120 percent of voluntary rates to 125 percent, which officials said results in a proposed increase of 9.1 percent. If approved, the rates will go into effect Jan. 1, 2011.
The Insurance Division also announced that sufficient funds are not available to meet the liabilities of the Second Injury Fund. Therefore, an overall assessment totaling $4 million will be imposed on insurers and self-insured employers in the state. The division mailed notices in mid-August.
Read more at the WorkersComp Forum homepage.
September 23, 2010
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