Loss Costs to Decrease 4.9% in April

Vermont Gov. Phil Scott and Department of Financial Regulation Commissioner Michael Pieciak on Wednesday announced that workers’ compensation loss costs will decrease 4.9%, effective April 1. At the same time, the assigned market risk rate will decrease 5.6%. The sixth consecutive reduction in loss costs means employers will pay an average of 41% less in premiums than they did in 2016, the governor’s office said in a statement. The latest cut is projected to save Vermont employers more than $8 million in premiums during the upcoming year. About 90% of businesses in the state obt...