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L&I Approves 2.7% Rate Increase

By Greg Jones (Senior Editor)

Tuesday, December 3, 2013 | 0

Workers’ compensation premiums will increase for the first time in three years in Washington with the state’s Department of Labor and Industries newly adopted 2.7% rate increase for 2014.“This modest increase in rates is part of a long-term plan to ensure steady and predictable rates by benchmarking against wage inflation,” L&I Director Joel Sacks said in a statement. “It will also help to gradually rebuild the workers’ comp reserves.”The department said the 2011 reforms reduced its costs, but it needs the increase primarily to rebuild a surplus ac...

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