House Bill 419, Workers' Compensation Benefits Increases

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Alaska Division of Insurance Bulletins › House Bill 419, Workers' Compensation Benefits Increases

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BULLETIN B00-04

TO: All Alaska Workers’ Compensation Insurers and Producers and Other Interested

Parties

RE: House Bill 419; Increase in Workers’ Compensation Benefits and Premiums

On June 1, 2000, Governor Knowles signed into law House Bill 419. Effective July 1, 2000,

the provisions of this bill will increase workers’ compensation benefits that have not changed

in over a decade. The new benefit levels are designed to provide compensation to injured

workers that will adjust to keep up with future inflation.

Adjustments for inflation will be accomplished by basing the new weekly rate of

compensation upon the statewide average weekly wage for the preceding calendar year,

rather than upon a fixed dollar maximum and minimum. Other benefit changes include an

increase of more than 30 percent in compensation for physical impairment and significant

increases in death benefits for widows, widowers, and orphans.

The National Council on Compensation Insurance, Inc. (NCCI) has submitted to the Division

of Insurance a loss cost filing to apply to policies that renew on or after July 1, 2000, and to

all outstanding policies on a pro rata basis. This filing, if approved, will increase workers’

compensation premiums. NCCI’s filing is currently under review by the Division to ensure

that it complies with Alaska’s insurance laws.

DATED: June 22, 2000

Robert A. Lohr

Director

By: Stan Ridgeway

Deputy Director

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

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House Bill 419, Workers' Compensation Benefits Increases · AK Insurance Bulletin B00-04 | Frix