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Michigan comp rate set to decline 9.3%

Posted On: Oct. 16, 2017 1:05 PM CST

Michigan comp rate set to decline 9.3%

Michigan’s workers compensation system pure premium advisory rate for work comp insurance will decrease by 9.3% for 2018.

Michigan will see a decrease of 45% from 2011-2018, saving Michigan employers an estimated $446 million in workers comp premiums, the Michigan Workers Compensation Agency said Wednesday in a statement.

“These tremendous economic savings experienced by employers allows them to hire more workers, increase salaries, open new facilities and move to Michigan,” Mark Long, Lansing, Michigan-based director for the Michigan Workers Compensation Agency, said in the statement. “Our sustained work comp decreases play an important role in the state’s regulatory environment which continues to attract businesses and add jobs.”