Event Details
Industrial Insurance Premium Rates, 2025
Public Hearing on Proposed Rules
Monday, October 28, 2024
10 a.m.
10 a.m.
Location
In-person:
Department of Labor & Industries - Rooms S117, S118, S119
7273 Linderson Way SW
Tumwater, WA 98501
To join on your computer or mobile app (Zoom):
https://lni-wa-gov.zoom.us/j/4283482697?omn=81289237905
Meeting ID: 428 348 2697
To join by phone (audio only):
253-215-8782 US (Tacoma)
Meeting ID: 428 348 2697
The in-person and virtual/telephonic hearing will start at 10:00 a.m. and continue until all oral comments are received.
L&I encourages the submittal of written comments, due by 5:00 p.m. on October 30, 2024.
Rules Affected
View the affected rules, purpose, and rulemaking statusPurpose
The purpose of this rulemaking is to establish premium rates and experience rating parameters for calendar year 2025. L&I adopted a 3.8% overall average premium rate increase to workers’ compensation insurance premium rates beginning January 1, 2024, and adjusting each industry risk classification rate to align with expected losses. Washington law provides that rates should be adjusted annually to reflect the hazards of each industry and in accordance with recognized workers’ compensation insurance principles and to ensure solvency of the accident, medical aid, and supplemental pension funds. The adoption is also notice that the Director intends to transfer the amount of the accident and medical-aid funds combined that exceed 10% of funded liabilities as required by RCW 51.44.023.