Arkansas Sees 8th Year of Cost Decline

Arkansas State Insurance Commissioner Mike Pickens announced last week a 4.5% overall loss cost decrease in the workers' compensation "voluntary" insurance market. This is the eight (8th) consecutive year in which loss costs have dropped, and contributes to a 44.5% decline over the past seven (7) years for this insurance market. The new loss costs will become effective July 1, 2002 for both new and renewal policies. Commissioner Pickens also announced a rate decrease in the "assigned risk" market. The overall decrease for this market is 3.1%. The high-risk workers' comp market has enjoyed a...