The Illinois Division of Insurance has approved a 0.1% increase in the advisory rate for workers’ compensation insurance in Illinois for 2005—that’s one-tenth of 1 percent.
For comparison’s sake, the department said in a statement, consider that the Consumer Price Index increased 2 percent.
After adjusting for inflation, the 2005 rate actually represents a 37 percent decrease since 1990 and Illinois has more insurance companies writing workers’ compensation policies than any other state in the country, says the state’s Industrial Commission.
Topics Trends Pricing Trends Illinois
Was this article valuable?
Here are more articles you may enjoy.
Lawyer for Prominent Texas Law Firm Among Victims ID’d in Maine Plane Crash 
Florida Senate President Says No Major Insurance Changes This Year 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
