Workers compensation rates for Idaho employers will increase by an average of 3.7 percent in 2011.
According to KPVI, Idaho Department of Insurance analyst Donna Daniel indicates the rates paid by employers are headed upward for the first time since 2005. (WCxKit)
The Idaho Business Review states there are several reasons for the increase, including more claims being filed and greater costs and expenses for companies.
But Daniel claims the biggest factor may be the recession. She says claims are staying open longer due to the fact injured employees often don't have a job to return to and are receiving benefits longer.
Idahos rate boost is based on the National Council on Compensation Insurance recommendations.
Idahos rates have fallen each of the last four years, including a 2.6 percent dip in 2010.
Author Robert Elliott, executive vice president, Amaxx Risks Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers Compensation costs, including airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. See www.LowerWC.com for more information. Contact: [email protected] or 860-553-6604.
Author Robert Elliott, executive vice president, Amaxx Risks Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers Compensation costs, including airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. See www.LowerWC.com for more information. Contact: [email protected] or 860-553-6604.
WC IQ TEST: http://www.workerscompkit.com/intro/
WORK COMP CALCULATOR: http://www.LowerWC.com/calculator.php
MODIFIED DUTY CALCULATOR: http://www.LowerWC.com/transitional-duty-cost-calculator.php
WC GROUP: http://www.linkedin.com/groups?homeNewMember=&gid=1922050/
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Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.
SUBSCRIBE: Workers Comp Resource Center Newsletter
Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.
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