TDI Approves 15% Drop in Relativities; Bill to End Method Passes Senate

The Texas Department of Insurance has ordered a 15% average reduction in classification relativities, effective July 1, the department announced Monday. The change for any given classification is between -36.3% and 6.3%, the order reads. The action is welcome news for employers and should lead to lower workers' compensation insurance premiums for many companies. It's part of a national trend toward fewer workplace injuries and declining claims frequency. But it underscores the fact that Texas is the only state left that employs its own classification rating system, a proces...