Louisiana Insurance Commissioner Jim Donelon on Wednesday approved the annual loss cost filing from the National Council on Compensation Insurance that will reduce state workers’ compensation rates an average of 4.1%, effective May 1.
The Department of Insurance said in a statement that rates have dropped by a cumulative 25% over the last five years, including the 2021 decrease.
“For years we’ve seen these rates come down due to competition in the market, improved workplace safety and better risk management practices,” Donelon said in a statement. “In a time...
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