Vermont Workers’ Comp Rates Likely to Go Down

December 8, 2008

Officials say Vermont businesses should be paying less for workers’ compensation insurance.

The National Council on Compensation Insurance is recommending a 13 percent drop in rates in Vermont.

If state regulators follow the recommendation, rates overall for the largest piece of workers’ compensation will drop again. Last year rates dropped 4 percent.

Vermont Department of Labor Commissioner Patricia Moulton Powden calls it extraordinarily good news.

The savings could be significant for Vermont employers who spend almost $200 million a year on workers’ compensation premiums.
Officials say the reason for the drops is simple: There have been fewer claims.

Laura Backus Hall of NCCI credits worker safety programs.

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