A Good Five Minute Workers Comp Rate Setting Calculation Video
This workers comp rate setting calculation video caught my eye last week. The State of Washington’s L&I produced the video.
Washington is a Monopolistic State. All employers operating in the state must buy insurance through a state agency. I am not a huge fan of Monopolistic States.
States such as West Virginia and Nevada successfully converted from monopolistic funds to a competitive marketplace. The results were always successful including a reduction in premiums.
Regardless, the video below is well worth the time. All Workers Comp rating bureaus including NCCI (National) WCIRB (California) use the same concept for rate setting.
©J&L Risk Management Inc Copyright Notice