Relates to schedule rating plans reflecting individual risk characteristics of an employer

This bill allows insurers to create customized workers' compensation insurance rates for employers based on their specific risk factors, directly affecting both employers and insurers. It sets a strict 25% limit on rate adjustments (up or down) for these customized plans and prohibits combining them with other rating methods like experience rating or merit-based discounts. The customized rates must be separate from general rate changes approved by the insurance department, ensuring they don’t influence broader rate structures.