Department Announces 9% Rate Cut

The Louisiana Department of Insurance on Thursday said Commissioner Jim Donelon approved the annual loss cost filing from the National Council on Compensation Insurance for a 9% reduction in workers’ compensation rates that will take effect in May. “This rate decrease continues the downward trend we have seen over the years,” Donelon said in a statement. “Our workers’ compensation market is competitive, and it’s a significant benefit to businesses statewide.” The department said work comp rates have fallen consistently over the last 20 years with...