Idaho comp rates to decrease 4.2% in 2019
Reprints
The Idaho Department of Insurance approved a proposal from the National Council on Compensation Insurance for a 4.2% decrease to workers compensation insurance rates set to go into effect in 2019, the department announced Tuesday.
The latest reduction, set to go into effect on Jan. 1, follows a 3.4% midyear reduction in 2017 and a 5.8% rate decrease that was effective at the beginning of 2018.
“We are pleased to announce this reduction, a move which will benefit Idaho businesses, their employees and the economy in general,” Department Director Dean Cameron said in a statement. “The change in the 2019 workers compensation rates reflects an improvement in our state rating factors, including a slight decline in both the frequency of claims for lost work time, and the average cost of those claims.”
Read Next
-
Idaho workers comp rates mostly stable for 2015
Idaho employers will see a “slight” reduction in workers compensation rates as of Jan. 1, 2015, the state Department of Insurance said Monday.
