Re: “Yes on 1082″ (editorial, 10,8).
We all know that the state Department of Labor & Industries is not perfect; however, Initiative 1082 is not the answer. An independent economic analysis establishes that I-1082 would result in substantial costs to Washington businesses with little to no benefit for people injured on the job.
Premiums will move from an hour- and risk-based system to a payroll-based system with no payroll limitation or caps. This increase in premiums will go into effect immediately and permanently, and business owners would pay regardless of whether they stay in the state system or go with a private carrier. The sponsors of I-1082 admit that this “shift” will cost businesses $315 million per year.
I-1082 would scrap our state’s current workers’ comp system and hand over control to a largely unregulated insurance industry. Think about moving from a not-for-profit to a for-profit insurance scheme. Private companies must pay CEO salaries and marketing budgets. And to be worth it all, they must make excessive profits.
Things will only get worse if we have to deal with a huge insurance company like AIG. Vote no on I-1082.