Louisiana Insurance Commissioner Jim Donelon approved the annual loss cost filing from the National Council on Compensation Insurance reducing workers’ compensation rates.
The rate cut will take effect May 1.
The Insurance Department said rates have decreased in eight of the last nine years. Rates are down a cumulative 25% over the last five years, 38% over the last 10 years and 57% over the last 20 years.
“Workers’ compensation rates have been a great success story in our market,” Donelon said in a statement. “We’ve seen a strong downward trajectory in r...
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