The Illinois Division of Insurance has approved a 0.1% increase in the advisory rate for workers’ compensation insurance in Illinois for 2005—that’s one-tenth of 1 percent.
For comparison’s sake, the department said in a statement, consider that the Consumer Price Index increased 2 percent.
After adjusting for inflation, the 2005 rate actually represents a 37 percent decrease since 1990 and Illinois has more insurance companies writing workers’ compensation policies than any other state in the country, says the state’s Industrial Commission.
Topics Trends Pricing Trends Illinois
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