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 Workers' Compensation Talent
Was this article valuable?
Here are more articles you may enjoy.
Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples 
Florida Senate President Says No Major Insurance Changes This Year 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
The $3 Trillion AI Data Center Build-Out Becomes All-Consuming for Debt Markets 
