- Associated Press - Wednesday, September 3, 2014

JEFFERSON CITY, Mo. (AP) - Missouri businesses could see a decline in their workers’ compensation insurance premiums next year.

The state insurance department says a new report by the National Council on Compensation Insurance indicates that insurers are likely to see a 3.7 percent drop in their “loss costs” for claims in 2015. Those loss projections typically are used by insurers when setting rates.

Insurance Department Director John Huff says the potential decline in workers’ compensation premiums is due largely to a decrease in the overall costs of medical claims.

At this time last year, the national council was projecting an 11.6 percent increase in “loss costs” for Missouri’s workers’ compensation insurers. That was due partly to a new law that shifted some injury claims to the workers’ compensation system from the state’s Second Injury Fund.


Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide