HB 3108 - DIGEST

Provides that, within ten working days after the department files proposed rules adopting industrial insurance rates, the department shall, at the request of either the labor members or the business members of the workers' compensation advisory committee, or both, contract for an independent actuarial audit of the rate-setting process.

Declares that the scope of the audit may include, but is not limited to, a review of whether the assumptions used by the department in setting rates are appropriate to ensure actuarial solvency of the accident and medical aid funds as required in RCW 51.16.035, and whether the department's rate-setting process is appropriately designed to limit premium rate fluctuations.

Requires the results of the actuarial audit, and any auditor recommendations, to be reported to the workers' compensation advisory committee, the governor, and the appropriate committees of the legislature.