New workers’ compensation rates that include an overall four per cent rate decrease became effective in Kansas on Jan. 1.
In late December, Kansas Insurance Commissioner Kathleen Sebelius approved the rates, which were filed by the 2002 National Council on Compensation Insurance Inc. (NCCI). Sebelius said the majority of Kansas employers, who are in the voluntary market, would see a reduction in workers’ comp rates.
The 2002 rates represent an overall savings of around $12.5 million, and are approximately $138 million below the rates paid by Kansas employers in 1995.
The state’s assigned risk pool, which is the insurance market for employers who can’t obtain coverage in the voluntary market, will experience an average rate decrease of 1.3 percent.
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