Insurance Department Approves 8th Consecutive Rate Decrease

The Connecticut Insurance Department approved yet another workers’ compensation rate decrease, effective Jan. 1. The department approved a National Council on Compensation Insurance filing with a 14.1% decrease in workers’ compensation pure premium loss costs and an 8.2% reduction in assigned risk rates. This is the eighth consecutive year of rate decreases in Connecticut, Gov. Ned Lamont said in a statement. “This further decline in workers’ compensation insurance premiums is good news for businesses, enabling employers to invest more money back into their ...