Idaho Department of Insurance Director Bill Deal announced that the state’s workers’ compensation premium rates will be reduced by an average of 3.7 percent for 2008.
“This decrease points out the stability of workers’ compensation coverage in Idaho,” Deal said. “It also shows that Idaho employers are doing an excellent job of providing safe workplaces for their employees.”
The new rates were recommended by the National Council on Compensation Insurance, a rating and advisory organization that collects annual data on worker’s compensation claims for the insurance industry. According to the NCCI, the workers’ compensation system in Idaho is in strong shape and well-administered, the DOI said. The new rates will become effective Jan. 1, 2008.
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