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The Texas Department of Insurance is proposing an increase in maintenance taxes and fees to fund some of its operations, including those related to workers compensation regulatory efforts, according to the proposal published by the office on Friday.
In 2018, workers compensation insurers would pay 2% of premium to fund the operations of the Division of Workers’ Compensation and the Office of Injured Employee Counsel and an additional tax of .054% of that premium to fund the Workers’ Compensation Research and Evaluation Group’s activities, according to a draft of the proposal.
Currently, those fees are 1.8% and .016%, respectively.
Written comments on the proposal are due on Dec. 11.
The department could not be immediately reached for further comment on the proposal.
The Colorado Division of Insurance said Monday that it has approved a reduction of 12.7% for the average loss costs component of workers compensation premiums for 2018.