Louisiana Insurance Commissioner Jim Donelon has approved a 10.5% reduction in workers’ compensation rates for 2022. The decrease is set to take effect May 1, 2022.
Louisiana has seen workers’ compensation rates decrease in eight of the last nine years, counting the upcoming 2022 reduction. Rates have dropped 25% over the last five years and 38% over the last 10 years.
“Workers’ compensation rates have been a great success story in our market,” said Commissioner Donelon. “We’ve seen a strong downward trajectory in rates over the past two decades, including this year’s double-digit decrease. Our workers’ compensation market is thriving, and that’s great news for Louisiana employers.”
249 companies write workers’ compensation in Louisiana, which is estimated to have about $850 million in 2021 written premium.
Source: Louisiana Department of Insurance
Topics Trends Louisiana Workers' Compensation Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
Lawsuit Alleges TWIA Fraudulently Reduced Claim Estimates From Hurricane Beryl 
Should Parents Be Responsible for Kids Getting Hurt and Killed on E-Bikes? 
11 New Firms Join Insurance Journal’s Top 100 Independent Agencies 
State Farm Must Give Up Trade Secrets in Claims Lawsuits, but Under Court Review 
