Rates to Drop 12.2% Next Year

Louisiana Insurance Commissioner Jim Donelon approved the annual loss cost filing from the National Council on Compensation Insurance recommending a 12.2% reduction in workers’ compensation rates. The decrease takes effect May 1 and is the 9th decrease in the last decade. “Workers’ compensation rates have dipped dramatically over the past two decades, with a combined decrease of 35% over the past five years, 47% over the past 10 and 63% over the past 20 years,” the Louisiana Department of Insurance said in a statement. The total Louisiana workers’ compensat...