Pa. Employers to See Added Savings for Comp Costs

Pennsylvania Insurance Commissioner Diane Koken on Wednesday announced that the Insurance Department has recently approved a 2.89 percent average rate reduction for workers’ compensation premiums, which will save employers an additional $32.5 million in workers’ compensation costs this year.

“Pennsylvania has a very competitive marketplace for workers’ compensation insurance due, in large part, to our overall reforms and focus on workplace safety,” Koken said. “We had seen some small rise in premiums in recent years, but I am encouraged that we are back on track.”

“Workers’ compensation and workplace safety are definitely moving in a positive direction in Pennsylvania,” added Labor & Industry Secretary Stephen Schmerin. “We are approaching the $200 million dollar mark in employer premium savings through our Certified Safety Committees. L&I is committed to reducing both direct and indirect costs associated with workplace accidents through streamlined administrative and adjudication processes, coupled with increased safety awareness and premium savings.”

Latest Comments

• March 31, 2005 at 2:57 am

  John Heinz says:

  I'm also back from the dead as there was only so much rolling I could do in my grave while Spendell and his Dem buddies ran this great state into the ground. This tops the ca... read more
• March 31, 2005 at 2:40 am

  Reagan says:

  I'm back from the dead. It's been awhile but I feel I must speak. Fast Eddie needes to be jailed. Along with his co-conspirator yes woman, that worthless Koken. Mr. Rendell... read more
• March 31, 2005 at 2:34 am

  Jimbo says:

  Wow, isn't it great. The PCRB asks for a rate increase and the department decreases rates. Tell me, if the board responsible for monitoring the rates asks for an increase, w... read more