Montana State Fund’s board of directors announced a six percent rate decrease for 2014.
The decrease is effective July 1 this year.
Since 2007 State Fund has lowered average rates to Montana businesses by 34.5 percent, according to the organization.
“This rate reduction is another example of how our policyholders have invested in keeping their employees injury free,” Laurence Hubbard, president and CEO of State Fund said in a statement. “Focusing on safety in the workplace and getting injured employees back to work as soon as medically appropriate helps control rising insurance costs, and the results are tangible.”
According to State fund Board Chair Elizabeth Best added, cooperative efforts by State Fund and its policyholders to reduce injuries contributed to the distribution of a $10 million dividend among policyholders earlier this year.
“Our hope is that this will encourage employers to invest in additional safety measures for other stakeholder employees,” Best said.
State Fund provides workers’ compensation coverage to over 26,000 employers in the state, making it the largest workers’ comp insurer in Montana.
Topics Workers' Compensation Montana
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