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HARRISBURG, Pa.—Pennsylvania employers will see a workers compensation rate decrease averaging 5.7% for 2012, the state’s Insurance Department said.
The rate decrease will result in savings for employers totaling $160 million.
“At a time when many are feeling a financial pinch and doing more with less, it is a very hopeful sign that the business community may now be able to pay less in workers compensation insurance premiums,” Pennsylvania Insurance Commissioner Mike Consedine said Thursday in a statement.
“Our workers compensation insurance system is sharply competitive, yet this marks the first time in three years that the Pennsylvania Compensation Rating Bureau has filed for a rate decrease,” he said.
SALEM, Ore.—Oregon plans to lower its assessment fee for workers compensation premiums next year despite an increase in the state's average premium rate, the state Department of Consumer and Business Services announced.