S.D. Comp Rates to Drop 1.3%

May 13, 2005

Most South Dakota employers will see their workers' compensation rates fall this year, according to Gov. Mike Rounds.

Efforts to improve workplace safety will result in a 1.3 percent drop, effective July 1, Rounds said. Only employers in the assigned risk pool will see their rates rise, by 6.1 percent, he said. The rate decrease for all other employers is happening in spite of a rise in medical costs, Rounds said.

State Insurance Division Director Gary Steuck said employers can expect rates to vary among insurance companies, so employers should shop around to find the best rates.

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