The Idaho Department of Insurance has approved a 6.2% decrease in workers’ compensation insurance rates, effective Jan. 1.
The rate decrease was recommended by the National Council on Compensation Insurance. It follows a 4.2% rate decrease in 2019.
“The decrease in the 2020 workers’ compensation rates reflects continued improvement in our state rating factors, including a slight decline in both the frequency of claims and the average cost of those claims,” Insurance Director Dean Cameron said in a news release.
According to an NCCI state advisory forum this ...
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