Tag: workers compensation rates

Pennsylvania workers compensation rates to be reduced

H. Cutner
workers compensation insurance

The state will be slashing back these insurance rates by 5.99 percent, beginning with the start of April. Pennsylvania has announced that it will be reducing its rates for workers compensation by 5.99 percent, and that this new level will become effective as of April 1, in a decision that is hoped to provide businesses with a considerable savings. In fact, the Wolf administration has said that the savings to businesses has been estimated at $140 million. The governor of Pennsylvania, Tom Wolf, explained that “These rate reductions will go…

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Workers compensation in Maine approved for 3.9 percent increase

California Insurance Commissioner rejects workers compensation rate hike for the third time

This is the largest increase that has been approved in the state for at least six years. The Maine Bureau of Insurance has just approved a rate increase of 3.9 percent for the workers compensation coverage in the state, which represents the biggest rise in the price of the coverage in more than half a decade. The primary cause of the increase is due to a rise in health care costs that will arrive on April 1. This, according to the Maine Workers’ Compensation Board executive director Paul Singhinolfi. Back…

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Workers compensation rate increase proposal rejected in Massachusetts

Julie Campbell
Joseph Murphy, the Massachusetts Insurance Commissioner on workers compensation plan

State Division of Insurance turns down the requested changes. The Massachusetts Division of Insurance has revealed that they have rejected the proposal that was made to increase the rates for workers compensation by 18.8 percent. The outcome of this will bring about no changes to the rates. The decision was made after having undergone a hearing process that lasted five months. The result is that there will not be any change to the current workers compensation rate. According to a statement from the Division of Insurance, this is expected to…

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