Loss Costs to Decrease 6.7% in April

Vermont Gov. Phil Scott and Department of Financial Regulation Commissioner Kevin Gaffney on Wednesday announced that workers’ compensation loss costs will decrease by 6.7%, effective April 1. At the same time, the assigned market risk rate will decrease 6.9%. The seventh consecutive reduction in loss costs means employers will pay an average of 47% less in premiums than they did in 2016, the governor’s office said in a statement. The latest cut is projected to save Vermont employers more than $11 million in premiums during the upcoming year. About 90% of businesses in the state...