Insurance Director Touts Competitive Work Comp Market
Monday, May 16, 2016 | 0
The number of carriers serving Missouri's workers' compensation market has increased by 49 since 2009 to 334 active carriers, the state's Insurance Department said in a press release.
Insurance Department Director John M. Huff highlighted the growth during the National Council on Compensation Insurance's Annual Issues Symposium on May 6, the department said. Huff also noted that since 2008, workers' compensation rates in Missouri have decreased by 11.6%.
The size of Missouri's assigned risk pool has also decreased by 66% since its creation in 1995, Huff said. As the end of 2015, Missouri's high-risk pool had 3,860 policies in force, compared to 11,341 in 1995.
A decrease in the size of the high-risk pool is another indicator of the competitiveness of the workers' compensation market, the department said.
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