Idaho comp rates set to fall 1.2% in 2017Posted On: Oct. 17, 2016 6:00 AM CST
The Idaho Department of Insurance says advisory workers compensation rates are set to decrease 1.2% next year for employers in the state.
The Boca Raton, Florida-based National Council on Compensation Insurance Inc. submitted a proposal that recommends the overall rate reduction, according to a recent statement from the Idaho insurance department. The rate cut is based on decreasing costs for lost-time workers comp claims in the state, the department said.
“The change in the 2017 workers compensation rates is a reflection of the stability of Idaho’s worker compensation system,” said Dean Cameron, director of the Idaho insurance department, in a statement. “Frequency of claims for lost work time claims has remained consistent, and the average costs of those claims have declined. Medical cost per case has leveled off.”