R.I. Proposes 6.75% Assessment for WC Insurers

The R.I. Department of Labor and Training proposed last month an assessment rate for workers’ comp 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 explained that the department is working to minimize any additional governmental costs to local businesses.

Each year, the workers’ comp assessment rate is recalculated based upon the projected costs to fulfill responsibilities. These responsibilities include: the funding of the workers’ comp court; the workers’ comp fraud unit; the education unit; the workers’ comp advisory council; and other operational costs associated with the workers’ comp program in Rhode Island. The proposed assessment rate will be subject to public comment for a 20-day period ending July 5, 2012.