Arkansas Insur-ance Commissioner Julie Benafield Bow-man announced new workers’ compensation rates to take effect July 1, 2005. The new rates are slightly lower on average.
“I am happy to see that overall rates in the workers’ compensation market continue to reflect a moderate decrease,” Commis-sioner Bowman said. “The assigned risk market had the greater decrease at 2.8 percent.”
The following rates represent “industry average” changes. Individual businesses may see increases or decreases in excess of the industry average when individual risk factors are applied for that particular business.
Loss costs – industry average change: Manufacturing, -3.3 percent; Contracting -4.8 percent; Office and Clerical, -2.8 percent; Goods and Services, +1.6 percent; Miscellaneous, +0.4 percent; Overall Change, -1.5 percent
Assigned risk – industry average change: Manufacturing, -4.5 percent; Contracting, -6.0 percent; Office and Clerical, -4.1 percent; Goods and Services, +0.2 percent; Miscellaneous, -1.0 percent; Overall Change, -2.8 percent.
Topics Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
DeSantis Plan to Cut Florida Property Taxes Heads to Ballot—With Schools Removed 
Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete 
Natural-Disaster Insurance Gap Now Exceeds $420 Billion Globally 
Artist Suing FIFA Over Destruction of Dallas Whale Mural From This Issue
