California Announces 2009 Workers’ Comp Insurance Assessment Rates

November 21, 2008

The California Department of Industrial Relations (DIR) has issued 2009 assessment rates for User Funding, the Uninsured Employer Benefit Trust Fund, the Subsequent Injury Benefit Trust Fund, the Occupational Safety & Health Fund, and the Workers’ Comp Fraud Account.

State law requires insurers to collect money from employers to cover all of the Division of Workers’ Compensation budget, pay benefits to injured workers whose employers were uninsured, provide for those who suffer from previous and serious permanent disabilities and impairments, pay for mandatory occupational safety and health programs, and fund the Department of Insurance and local District Attorney’s workers’ comp antifraud efforts. DIR notes that insurers must apply the following rates against policyholders’ estimated annual “assessable premium” for workers’ comp policies incepting Jan. 1, 2009 through Dec. 31, 2009.

For 2009, total assessments required for the five funds from all payers will amount to $311.7 million prior to adjustments for current fund balances and any amounts under- or over-collected this year, the DIR indicated. The assessments will be split between insured and self-insured employers in proportion to their payroll for the most recent year available.

DIR is mailing letters and invoices to insurers and self-insured employers showing their share of the assessments. For information, visit http://www.cwci.org/press_release.html?id=93.

Source: CWCI

Was this article valuable?

Here are more articles you may enjoy.