Idaho comp rates to drop 5.8% in 2018

The Idaho Department of Insurance said Monday that workers compensation rates will drop 5.8% next year.

This recommended rate decrease from the Boca Raton, Florida-based National Council on Compensation Insurance is effective Jan. 1, 2018, the Idaho Department of Insurance said in a statement.

“We are pleased to announce this reduction which will help Idaho businesses,” said Dean Cameron, Meridian, Idaho-based department director. “The change in the 2018 workers compensation rates reflects improvement in Idaho’s worker compensation rating factors such as a slight decline in both the frequency of claims for lost work time and the average costs of those claims,” he said.