Officials say Vermont businesses should be paying less for workers’ compensation insurance.
The National Council on Compensation Insurance is recommending a 13 percent drop in rates in Vermont.
If state regulators follow the recommendation, rates overall for the largest piece of workers’ compensation will drop again. Last year rates dropped 4 percent.
Vermont Department of Labor Commissioner Patricia Moulton Powden calls it extraordinarily good news.
The savings could be significant for Vermont employers who spend almost $200 million a year on workers’ compensation premiums.
Officials say the reason for the drops is simple: There have been fewer claims.
Laura Backus Hall of NCCI credits worker safety programs.
Was this article valuable?
Here are more articles you may enjoy.
NC Jury Award for Workers Injured in Wall Collapse May be Largest in State History 
Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event 
Atlantic Hurricane Season Forecast Milder Than Normal Thanks to El Nino 
NY Lawmakers Agree to Governor’s Auto Insurance Reforms in New Budget 
