Rates to Drop 3.6% in March

The Tennessee Department of Commerce and Insurance announced that workers' compensation premiums will decline in March for the 12th consecutive year. The department on Tuesday said the commissioner in December signed an order approving a 3.6% overall loss cost decrease for the voluntary market. The decrease applies 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. “T...