The Texas Department of Insurance, Division of Workers’ Compensation has determined that any interest or discount provided for in the Texas Labor Code shall be at the rate of 6.38%. The rate is effective July 1, 2022, through September 30, 2022.
The interest / discount rate of 6.38% is an increase from 4.80% for the period of April 1 through June 30. This is the highest quarterly interest / discount rate the DWC has set in at least five years.
The DWC’s website says the rates are computed by using the treasury constant maturity rate for one-year treasury bills issued by the United States Government, as published by the Federal Reserve Board on the 15th day preceding the first day of the specified quarter, plus 3.5 percent.
Topics Texas Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
