Insurance Department Announces 13th Consecutive Rate Cut

The Tennessee Department of Commerce and Insurance announced a 13th consecutive workers' compensation rate cut for 2026. In December, Commissioner Carter Lawrence signed orders approving a 2% overall loss cost decrease for the voluntary market and a 1.1% decrease in the assigned risk rate level. The rates apply to policies incepting on or after March 1. Loss costs are the portion of work comp rates used for claims and claims adjustment expenses. The department said employers have seen consistent loss cost reductions since work comp system reforms were started in 2014. “Safer...