Business Association Warns Rate Hikes Might Jump Higher

The Association of Washington business warns that the 3% workers' compensation rate hike taking effect Jan. 1 might go much higher in 2010 unless the state takes steps to reduce costs in a podcast posted on the group's website.In the podcast, association President Don Brunell interviews Governmental Affairs Director Kris Tefft about the Department of Labor and Industries recently announced rate hike.Tefft noted that the increase could have been 6.3%, but the department decided to draw down reserves instead of bringing in more premium to keep up with costs. However, the department's...