Washington: Wheels in motion to set rates for industrial insurance
The Department of Labor and Industries issued a preproposal statement of inquiry regarding industrial insurance premium rates.
The department is required 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. The department is also required to offer retrospective rating plans to employers. The department will work with the Workers' Compensation Advisory Committee and Retrospective Rating Advisory Committee as changes are developed. The department is planning to hold public meetings in October.
Read more at the WorkersComp Forum homepage.
July 29, 2011
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