Insurance Commissioner Approves 8.46% Rate Decrease

Workers' compensation rates will decrease by an average of 8.46% in October, saving Wisconsin employers $170 million, the state's insurance commissioner announced Tuesday. A committee of actuaries from the Wisconsin Compensation Rating Bureau, which recommends workers' compensation rates, suggested the change after studying the previous year's losses across the state's employment pool. Wisconsin Commissioner of Insurance Ted Nickel approved the rate decrease on Tuesday. The rate level changes by industry group are as follows: Manufacturing, -9.28%. Contracting,&n...