Reforms Touted for 49% Reduction Comp Rates Since 2005

By Bill Kidd, Central Bureau ChiefTexas employers have seen average workers’ compensation premium rates reduced by 49% since the passage of reform legislation in 2005, the Insurance Council of Texas said on Wednesday.The Insurance Council said Texas Department of Insurance (TDI) figures show the average premium rate in Texas has dropped from $2.70 per $100 of payroll in 2004 to $1.38 per $100 in 2010. Steve Nichols, workers’ compensation insurance manager for the council, said House Bill 7, which passed in 2005, was “landmark legislation” for Texas’ workers’...