Gov. Earl Ray Tomblin says employers in the state will see an estimated $43 million reduction in workers’ compensation premiums in the coming year.
Tomblin says employers have saved more than $323 million since the program was privatized in 2006.
According to the governor, the National Council on Compensation Insurance recently filed a proposed 12.1 percent reduction in workers’ compensation loss cost rates with the Offices of the West Virginia Insurance Commissioner. It’s the 11th reduction in 11 years.
Related:
- Insurers File for 9.1% West Virginia Workers’ Compensation Loss Cost Decrease
- West Virginia Court Caseload Drop Tied to Workers’ Comp Reform
- NCCI Proposes 9.1% Cut in West Virginia Workers’ Comp Rates
- 2014 Workers’ Comp Rates Ranked by State
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