Idaho workers’ comp rates to decrease for 2018

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The Idaho Department of Insurance has received a proposal from the National Council on Compensation Insurance for an overall rate drop of 5.8 percent to workers’ compensation insurance.

The decrease is to become effective January 1st.

Department Director Dean Cameron said the change in the 2018 workers’ comp rates reflects improvement in Idaho’s worker comp rating factors, such as “a slight decline in both the frequency of claims for lost work time, and the average costs of those claims.”

The workers’ compensation benefit system is designed to cover medical costs associated with workplace injuries, as well as provide wage replacement benefits to injured workers for lost work time.

NCCI collects information about the workers’ compensation system in Idaho and submits proposed rates to the Department of Insurance for review and approval.  (Insurance Journal)

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