Connecticut employers in the volunteer market pay, on average, the second-highest workers’ compensation premium rates in the country, according to a recent study.
Connecticut’s premium rate index, according to the study, is $2.99 per $100 of payroll, or 159 percent of the national median.
The findings were published last month by the Oregon Department of Consumer & Business Services.
Several other Northeastern states also ranked high in the study. New York State’s workers’ compensation was ranked fifth most expensive, with a premium rate index of $2.82 per $100 of payroll, or 150 percent of the national median.
New Jersey was ranked seventh, with the premium rate index of $2.74, or 146 percent of the national median. New Hampshire came in at ninth, while Maine was ranked 10th and Pennsylvania was ranked 12th.
Premium rate indices were calculated based on data from 51 jurisdictions, for rates in effect as of Jan. 1, 2012, according to Oregon officials.
A full list of the workers’ compensation premium rate ranking, published by the Oregon Department of Consumer & Business Services, can be viewed on page 12 of Insurance Journal.
Topics New York Workers' Compensation
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