The New Mexico Department of Insurance has approved rate reductions in workers’ compensation premiums for the fourth year in a row.
Workers’ Compensation Administration director Glenn Smith says such rate reductions make it cheaper to purchase insurance and, hopefully, make New Mexico more attractive to businesses.
He credits efforts by employers and workers for reducing on-the-job injuries.
The National Council on Compensation Insurance has requested a rate reduction of 4.5 percent in the voluntary market and an overall decrease for the Assigned Risk Pool of 0.9 percent. The reductions should go into effect on Jan. 1.
Topics Talent Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
Washington Commanders Player Scores Workers’ Compensation Win 
Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
Viewpoint: After 3 Years of Retreat, Insurance Capacity Is Returning to California 
The Big Data/AI ‘Revolution’ Is Driving Up Verdicts, Settlements as Plaintiffs Buy In 
