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Workers comp rate continues to decline |
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October 2, 2017 |
The Idaho Department of Insurance has accepted a
proposal from the National Council on
Compensation Insurance (NCCI) for an overall
rate change of -5.8% percent to workers’
compensation insurance to become effective
January 1, 2018.
“We are pleased to announce this reduction which
will help Idaho businesses,” said Department
Director Dean Cameron. “The decrease in the 2018
workers compensation rates reflects a slow but
consistent improvement over the past few years
in both Idaho’s frequency of worker compensation
claims and the average costs of those claims.”
The workers’ compensation benefit system is
designed to cover medical costs associated with
workplace injuries, as well as provide wage
replacement benefits to injured workers for lost
work time.
NCCI collects information about the workers’
compensation system in Idaho and submits
proposed rates to the Department of Insurance
for review and approval. |
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