Most companies in Vermont will pay lower workers’ compensation premiums thanks to state-approved loss cost rates effective April 1.
Rates for loss costs in the voluntary market will decrease by an average of 4.2 percent, according to Gov. Jim Douglas’s office. This is the second consecutive year that rates have declined.
“These lower rates demonstrate that an emphasis on workplace safety and a healthy, predictable regulatory environment for insurers can help bring rates down for most employers,” Douglas said.
Since 2000, the number of workplace injures resulting in time lost from work have been declining in Vermont.
Tags: workers’ compensation, workplace injuries; workers’ compensation insurance, workers’ compensation premiums