Department Approves 3% Loss Cost Decrease

The Missouri Insurance Department is recommending a 3% decrease in workers’ compensation loss costs for 2018, which follows a 4% decrease that took effect Aug. 1.  “Missouri’s lost-time claim frequency has fallen since 2010, and average claim costs have stayed steady for the past several years,” Department of Insurance Director Chlora Lindley-Myers said in a press release. “This improvement in experience is driving the decrease in loss costs. Missouri’s workers’ compensation insurance market is competitive, with over 300 insurers actively wri...