Minnesota Reinsurance Rates Dropping 12%

The Workers' Compensation Reinsurance Association (WCRA) announced that it is reducing the reinsurance rates it charges to self-insured Minnesota employers and insurance companies by an average of 12 percent. The rate reductions have been adopted by the WCRA Board of Directors and approved by Minnesota Commissioner of Labor and Industry Shirley Chase. The rate reductions will range from five percent to 19 percent depending on the retention limit selected by each insurer or self-insured employer. Carl Cummins, acting WCRA president, said that the association is able to reduce its rates ...