The Idaho Department of Insurance has proved a 4.2 percent drop in workers’ compensation insurance rates effective Jan. 1, 2019.
The proposed rate change comes from the National Council on Compensation Insurance, and is a function of declining claim costs, according to the department.
“The change in the 2019 workers’ compensation rates reflects an improvement in our state rating factors, including a slight decline in both the frequency of claims for lost work time, and the average cost of those claims,” Department Director Dean Cameron said in a statement.
Was this article valuable?
Here are more articles you may enjoy.
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
‘Structural Shift’ Occurring in California Surplus Lines 
