Group To Recommend 16% Workers’ Comp Rate Increase
On Wednesday, the Workers Compensation Insurance Rating Bureau said it plans to recommend a 16% rate increase for new and renewal of workers' compensation policies starting Jan. 1, 2009. Increased medical costs account for about 10.8% of the increase, while 2.8% is due to increased loss-adjustment expenses and 1.8% to other factors.
- "Rating Bureau Proposes Startling 16 Percent Increase in Worker's Comp Rates" (Rauber, San Francisco Business Times, 8/14).