Ill. DOI Advises 0.1% Comp Rate Increase

December 29, 2004

The Illinois Division of Insurance has approved a 0.1% increase in the advisory rate for workers’ compensation insurance in Illinois for 2005—that’s one-tenth of 1 percent.

For comparison’s sake, the department said in a statement, consider that the Consumer Price Index increased 2 percent.

After adjusting for inflation, the 2005 rate actually represents a 37 percent decrease since 1990 and Illinois has more insurance companies writing workers’ compensation policies than any other state in the country, says the state’s Industrial Commission.

Subscribe Insurance news headlines delivered to your email.
Get a free subscription to our popular email newsletter.

Latest Comments

  • December 31, 2004 at 11:40 am
    Michael Lebovitz says:
    This ought to bode well for any company looking to do business in the State of Illinois. Hopefully the word has gone out that Illinois is employer friendly.
See all comments

Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features