Study ranks states on workers’ comp premiums; Alaska highest

By | December 11, 2006

The Oregon Department of Consumer and Business Services (DCBS) has issued its biennial study on national workers’ compensation premiums, and noted that Alaska has the highest rates of all 50 states and the District of Columbia.

In its ranking, Oregon ranked 42nd, which means its workers’ compensation rates were the 10th lowest in the nation in 2006, with a premium rate index of $1.97 per $100 of payroll. Oregon’s ranking was unchanged from 2004. Alaska had the highest workers’ compensation rates with a premium index rate of $5 per $100 of payroll, and California’s rates were the second highest, with a premium index rate of $4.13 per $100 of payroll.

Of the other western states, Hawaii came in 15th with a $2.89 index rate; Wyoming and Colorado came in 28th and 29th with a $2.40 index rate; Nevada came in 30th with a $2.36 index rate; Washington came in 36th with a $2.17 index rate; Idaho ranked 32 and had a $2.29 index rate; Utah ranked 38 and had a $2.06 index rate; and Arizona ranked 46 and had a $1.73 index rate.

Nationwide, two jurisdictions had an index rate above $4. Ten states were in the $3 to $3.99 range; 29 were in the $2 to $2.99 range; and 10 had index rates under $2. Index rates were based on data for rates that were in effect as of Jan. 1, 2006.

According to DCBS, the previous study from 2004 recently won an award from the International Association of Industrial Accident Boards and Commissions, a nonprofit professional association of government agencies charged with the administration of workers’ compensation systems throughout the United States, Canada, and other nations and territories.

To view the entire ranking, visit: http://www.cbs.state.or. us/imd/rasums/2082/06web/06_2082.pdf

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal West December 11, 2006
December 11, 2006
Insurance Journal West Magazine

2006 Program Directory, Vol. II