A proposal for a 1.7% overall rate decrease to Idaho workers’ compensation insurance, effective Jan. 1, 2021, has been approved by the Idaho Department of Insurance.
The proposed rate change is recommended by the National Council on Compensation Insurance. The NCCI also recommended a rate decrease for Idaho for last year.
The department in 2019 approved a proposal for a 6.2% overall rate decrease to Idaho workers’ comp insurance that was effective Jan. 1, 2020.
“The Department is pleased to announce this reduction, which will benefit Idaho businesses, their employees and the economy in general,” Director Dean Cameron said in a statement. “The decrease in the 2021 workers’ compensation rates reflects continued improvement in our state’s projected claims costs.”
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