The State Corporation Commission has approved an increase in the workers’ compensation premiums for the largest class of Virginia employers. Employers in the industrial classification will see their premiums rise an average of 4.9 percent in the voluntary market and 10.2 percent for assigned risks. But federal employers and underground and surface coal-mining companies could see their premiums fall. Federal voluntary rates will drop 15.6 percent, surface-mine rates 12.2 percent and underground-mine rates 7.4 percent. Assigned-risk rates for federal, surface-mine and underground-mine risks will drop 11.7 percent, 5.5 percent and 2.4 percent on average, respectively. The changes, to become effective April 1, 2005, were sought by the National Council on Compensation Insurance.
Topics Virginia
Was this article valuable?
Here are more articles you may enjoy.
Clash of Florida Titans Pits Powerful Tribe Against Homebuilder Lennar 
After Losing Job and Crypto, Man Falsely Claimed $1.3M From 107 Class Actions 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
Fla. Supreme Court Reverses Lower Court on Compensability of a Workplace Shooting From This Issue
