Insurance Commissioner Approves 10.7% Cut to Loss Costs
Friday, March 2, 2018 | 82 | 0 | 272 min read
Montana Insurance Commissioner Matt Rosendale approved a 10.7% loss cost reduction that goes into effect July 1.
The 2018 rate cut is the largest since 2011, when then-Commissioner Monica Lindeen approved a 22.4% reduction in loss costs following the passage of a reform bill earlier in the year.
The latest rate cut follows a 7.8% reduction Rosendale approved in 2017.
Approved loss cost rates are used by private carriers and Montana State Fund to calculate premiums charged to employers.