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  • The system is broken. The Work Loss Data Institute gave Hawaii's workers' compensation system an "F" for the years 2001 and 2002, noting that Hawaii has gone from "bad to worse."
  • Hawaii's businesses are paying entirely too much for workers' compensation insurance.
  • A recent national study ranks Hawaii THIRD highest in the entire nation in premiums. Hawaii's businesses on an average pay $3.48 for every $100 they pay in wages.
  • California and Florida, who are ranked number one and two for having the highest premiums have saved their system by making necessary reforms.
  • AM Best reported that premiums in Hawaii on an average, increased 24% in 2003. AM Best is the world's largest and oldest company devoted to issuing in-depth reports on the insurance market.
  • Workers' compensation insurance premiums have doubled and tripled in the last five years for many of our local companies.
  • We have a system where insurance carriers are forced to stop insuring a company as soon as the first workers' comp claim is filed.
  • We have a system that has little safeguards or effective procedures to eliminate abuse.
  • In a survey conducted recently by the Pacific Business News, 73% of our local businesses reponded that their NUMBER ONE issue was the soaring costs of workers' compensation (along with rising premiums for prepaid healthcare insurance).
 



 

 


2002 2000    
Ranking Ranking State Index Rate*
1 3 CA 5.23
2 1 FL 4.50
3                8               HI           3.48
4 16 DE 3.38
5 4 RI 3.29
6 7 TX 3.29
7 2 LA 3.19
8 6 NY 3.13
9 12 MT 3.04
10 5 NV 3.02
11 18 AL 2.96
12 17 CT 2.90
13 9 OH 2.89
14 28 AK 2.87
15 24 KY 2.87
16 10 DC 2.86
17 20 NH 2.85
18 11 OK 2.82
19 15 IL 2.73
20 14 CO 2.73
21 22 MN 2.60
22 25 PA 2.57
23 13 WV 2.53
24 33 VT 2.45
25 26 MO 2.39
       

 *The Index Rate shows that Hawaii's  employers on an average pay $3.48 for  every $100 they pay in wages.  

 2002 Oregon Workers' Compensation  Premium Rate Ranking by Oregon State  Dept. of Consumer and Business Services.

 
 
   
 



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