Insurance Department Adopts 6.7% Rate Cut

The Idaho Department of Insurance on Wednesday announced that it accepted the National Council on Compensation Insurance's rate filing for an average 6.7% reduction in workers’ compensation rates. The decrease takes effect Jan. 1 and marks the eighth consecutive reduction in rates, the department said. The department said NCCI’s recommendation was based on claims volume, claims utilization, workforce and wages, as well as changes in rules or legislation. "This is another significant decrease to workers’ compensation rates," DOI Director Dean L. Camer...