Maine Workers’ Compensation Insurers File for 2.2% Decrease

November 2, 2007

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.

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