R.I. Proposes 6.75% Assessment Rate for WC Insurers for Coming Year

June 14, 2012

The R.I. Department of Labor and Training has proposed this week an assessment rate for workers’ compensation insurers of 6.75 percent for the coming year, effective July 15, 2012.

This rate has remained level every year since 2008. Director Charles Fogarty explains that by keeping the assessment rate level for 2012, the department has acted on Governor Lincoln Chafee’s advice to minimize any additional governmental costs to area businesses.

Each year, the workers’ compensation assessment rate is recalculated, based upon the projected costs to fulfill responsibilities. These responsibilities include: the funding of the workers’ compensation court; the workers’ compensation fraud unit; the workers’ compensation education unit; the workers’ compensation advisory council; the Donley Rehabilitation Center; and other administrative and operational costs associated with the workers’ compensation program in Rhode Island.

The proposed workers’ compensation assessment rate will be subject to public comment for a 20-day period ending July 5, 2012.

The division of workers’ compensation at the R.I. Department of Labor and Training monitors the workers’ comp system, ensuring claims are paid correctly and that all required employers with one or more employees maintain insurance coverage. It also provides rehabilitative services, including physical therapy, work hardening, vocational services and psychological services through the Donley Rehabilitation Center in Providence.

Was this article valuable?

Here are more articles you may enjoy.