Indiana Insurance Commissioner Stephen Robertson on Wednesday approved a 9.3% decrease in workers’ compensation rates, effective on Jan. 1.
The approved rate decrease will result in savings of approximately $82.7 million for Indiana businesses, the commissioner’s office said in a news release.
The rate decrease aligns with a filing from the Indiana Compensation Rating Bureau, which on Sept. 15 recommended a 9.1% decrease to loss costs and a 9.3% rate decrease.
ICRB proposed a 9.1% decrease in loss costs based on a a projected 10.1% decrease in experience, trend and benefits,...
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