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September 21, 2009
Bellevue, Washington – September 21, 2009 – The Washington State Department of Labor & Industries (L&I) today announced a proposed increase of 7.6% in Workers’ Compensation rates effective January 1, 2010.
In previous years L&I has used its contingency fund to offset the need for rate increases. However, this fund has decreased significantly in value in 2009 due to the current economic climate.
This new increase is the largest since 2004 when rates increased by 9.8%. L&I has increased rates seven out of the last nine years with only marginal decreases in 2006 & 2007 of 0.4% & 2.0% respectively. This represents a cumulative rate increase of 64% since 2002.
For more immediate assistance and for help evaluating how you can offset or even reduce your Workers’ Compensation costs, please contact Marty Bask at 425.709.3626 or email Marty by clicking here.
For information regarding this release please contact Doug Pullman.
p: 800.457.0220 | e: Doug Pullman