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Commissioner Approves 10.2% Rate Cut

Friday, April 7, 2023 | 0

Massachusetts Insurance Commissioner Gary Anderson approved a 10.2% average rate cut for policies incepting on or after July 1. Anderson on Tuesday approved a stipulated rate cut that was more than twice as large as what the Workers’ Compensation Rating and Inspection Bureau of Massachusetts initially recommended. The bureau in December 2022 sought a 4% average decrease. After public hearings in February and March, representatives from the state, the ratemaking agency and a representative from the National Association of Housing and Redevelopment Officials self-insurance group...

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