Washington’s workers’ comp rates will increase 2.7 percent in 2014

The Department of Labor and Industries announced that businesses in Washington State will pay 2.7% more for workers’ compensation insurance in 2014. L&I said 2.7% is an average for all businesses and some will pay more or less than this, depending on their safety record and other factors. This modest increase in rates is part of a long-term plan to ensure steady and predictable rates by benchmarking against wage inflation,” said L&I Director Joel Sacks. “It will also help to gradually rebuild the workers’ comp reserves.

The 2014 rates by industry are available online.

Contact Parker, Smith & Feek for assistance in determining how this increase may affect you.

Marty Bask, Workers’ Compensation Specialist
425.709.3600 | mdbask@psfinc.com

For the full release from L&I click here.

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