Event Details

Industrial Insurance Premium Rates, 2025

Public Hearing on Proposed Rules
Tuesday, October 29, 2024
10 a.m.

Location

CenterPlace Event Center – Meeting Room
2426 Discover Place
Spokane Valley, WA 99216

The in-person 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.

Purpose

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.