The Idaho Department of Insurance announced that workers’ compensation rates will fall an average of 11.5% next year.
The department said the National Council on Compensation Insurance recommended the cut based on claims volume, claims utilization, wage changes and changes in rules and legislation.
Carriers can use the approved rates recommended by the National Council on Compensation Insurance when writing policies that will incept on or after Jan. 1.
Alternatively, insurers can submit modified rates for the department’s review and approval.
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