Largest Rate Decrease in More Than Eight Years Takes Effect April 1

Loss costs in Vermont’s voluntary market will decrease by an average of 7.9% starting April 1, the first rate decrease in two years and the largest in more than eight years, Gov. Phil Scott announced. The rates in the assigned risk market will drop by an average of 8%, according to a press release from the Vermont Department of Financial Regulation. “This substantial rate reduction is a clear indication that Vermont’s workers’ compensation market has significantly improved as of late,” DFS Commissioner Michael Pieciak said. “This improvement is driven ...