State Sees 11% Drop in Loss Costs for 2020

State regulators have approved an 11.6% average loss cost decrease for the voluntary market, starting April 1, the governor's office announced. The assigned risk market will see a 12.1% reduction. The changes mark the fourth straight year of workers' compensation rate decreases and follow a 5.1% reduction approved last year for the voluntary market. “A major expense for Vermont businesses has been workers’ comp insurance, so I’m incredibly pleased we’ve been able to continually reduce these costs, without reducing benefits for workers,” Vermont Gov. Phil...