Vermont Firms to See Decline in Workers’ Comp Costs

Vermont Gov. Jim Douglas says the state’s business owners are going to be paying less for workers’ compensation insurance.

The new rates that will take effect April 1 will mark the fourth consecutive year in which rates have decreased.

The rate changes vary by industry. The state says there were significant reductions for dairy farms, which will see a 19 percent, and the ski industry, which will go down 13 percent.

The new rates were approved by the Department of Banking, Insurance, Securities and Health Care Administration.

Douglas says the decreased rates would not be possible without employers’ continued attention to the need for workplace safety and state regulators.