Carriers earned $290.1 million in premiums in 2015, about 1% more than the $287.1 million earned in 2014, according to the New Mexico Workers’ Compensation Administration’s latest annual report.
While premiums are up, the WCA noted the average cost to employers to purchase coverage dropped 5.9% to $1.60 per $100 in payroll compared to $1.70 in 2014.
Total paid losses for carriers and self-insured employers increased about 1.3% to $321.8 million. And the total number of claims fell by 5.1% to 41,592 from 43,806, the WCA said.
The average medical cost for an indemnity claim was $8...
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