The National Council on Compensation Insurance, an advisory rating organization for companies that offer workers’ comp insurance, is asking state regulators for an average rate decrease of 2.2 percent in Maine next year.
The filing credits improved safety efforts on job sites for making the decrease possible.
Acting Insurance Superintendent Eric Cioppa says workers compensation claims are decreasing faster than increases in medical and indemnity costs.
If approved, the new rates will reduce premiums by about $5.5 million.
Copyright 2025 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Topics Carriers Workers' Compensation Talent Maine
Was this article valuable?
Here are more articles you may enjoy.
AIG: Turning One Human Underwriter Into Five, ‘Turbocharging’ E&S 
Marsh Sues Aon, Ex-Team Leader Over Exit of 20 Construction Surety Employees 
Cincinnati Financial Finishes Q1 in the Red Due to Catastrophes 
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils 
