MO Looking at Double Digit Rate Increases

Missouri business will likely see double-digit increases in work comp rates for 2003. Missouri Employers Mutual Insurance told the Columbia Daily Tribune that it expects rates to increase an average of 14.4% next year. 2002 rates were 8% higher than 2001's average.The Missouri Department of Insurance will set its 2003 work comp rates this month. Departmental data through mid-June showed rates had risen an average of 6.7 percent. That report showed that that 56 companies implemented rate reductions averaging 3.1 percent, but 157 companies increased rates on average by 10.3 percent.Missouri's wo...