That, coupled with legislation just signed by the governor, may mean the end of Montana's distinction as the state with the nation's highest workers' comp costs.
Commissioner of Securities and Insurance Monica Lindeen's approval of the 22.4 percent reduction came on the heels of bipartisan legislation signed by Gov. Brian Schweitzer in April. The rate reduction was filed by the National Council on Compensation Insurance as a revision to the initial 5.6 percent rate cut that did not include legislative reforms.
Most workers' comp insurers in Montana are required to adopt loss costs filed by NCCI, with the exception of the State Fund, the largest workers' comp insurer. A State Fund official was quoted as saying she anticipates a 15 to 20 percent rate cut.
Read more at the WorkersComp Forum homepage.
May 16, 2011
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