Kentucky workers’ compensation costs are continuing to drop, with latest figures showing an average reduction of 6.4 percent.
Insurance Commissioner Sharon P. Clark has approved the industry’s loss cost reduction for the 598 industrial classes used in Kentucky effective Oct. 1. These classes include manufacturing, office and clerical, contracting, and goods and services. For coal classes, underground mining costs dropped 20.4 percent while surface mining decreased 13.1 percent.
Clark said this is the fourth consecutive year that costs have dropped.
The rate cuts are attributable in part to a continuing decline in the number of workplace injuries and the severity of those claims.
Topics Talent Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
IMA Latest to Sue Howden Over Alleged Employee Poaching 
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters From This Issue
