Promotes transparency in workers' compensation premium rate increases by requiring detailed reporting.

The bill mandates the Department of Labor and Industries to publish detailed information about proposed premium rates for workers' compensation. This includes the rate classifications limited by the director, the proposed rate, the rate that would have been set according to actuarial principles, and the impact on other risk classes. The department must also submit this information to the legislature and the workers' compensation advisory committee. This transparency aims to ensure the public is fully informed about the state's workers' compensation program.

Promotes transparency in workers' compensation premium rate increases by requiring detailed reporting.

The bill mandates the Department of Labor and Industries to publish detailed information about proposed premium rates for workers' compensation. This includes the rate classifications limited by the director, the proposed rate, the rate that would have been set according to actuarial principles, and the impact on other risk classes. The department must also submit this information to the legislature and the workers' compensation advisory committee. This transparency aims to ensure the public is fully informed about the state's workers' compensation program.