Thread: Workers Comp Tax Increase 28%

August 12, 2009
Workers' comp rates may rise again

The insurance industry called for a 22.8 percent increase in workers' compensation
premiums today, earning a quick scolding from Insurance Commissioner Steve Poizner.

Insurers are free to raise rates as they please, and the recommendation by the
industry-supported Workers Compensation Insurance Rating Bureau signals that rates
are likely to go up again. The new rates would take affect next January.

Rates went up roughly 10 percent last month, although premiums remain far below
the 2003 peak, when soaring premiums prompted a legislative overhaul of the system.

Poizner said the industry's recommendation would have a "devastating effect" on
small businesses. He said he will scrutinize the recommendation.


http://www.sacbee.com/static/weblogs/real_estate/

I labeled Workers Compensation a "Tax" because CA appears to seek revenue to offset a
"tax" reduction of revenue.

Anomaly: Massive unemployment, "negative job growth", offshoring labor = increase in
Workers Compensation claims?