The board for Montana’s state workers’ compensation system has authorized a 1 percent decrease in the overall rates paid by policyholders.
The State Fund board authorized the decrease, for the coming year. The action marks the first time in six years that policyholders will not see an overall increase in premiums.
The decrease will not be evident to all clients of the State Fund, which sells employers insurance against on-the-job injury of workers.
Individually, clients could see rates go up or down by as much as 30 percent, depending on the type of industry and the history of employee accidents, State Fund said.
State Fund’s Chief Executive Laurence Hubbard, said the 1 percent decrease suggests that “employers seem to be getting the message that safety does impact the bottom line.”
Hubbard said injured workers have been returning to their jobs sooner, which results in the State Fund paying wage claims for fewer weeks.
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