{"id":18748,"date":"2023-04-07T12:02:42","date_gmt":"2023-04-07T16:02:42","guid":{"rendered":"https:\/\/www.northcentralmass.com\/?p=18748"},"modified":"2025-02-02T18:14:13","modified_gmt":"2025-02-02T23:14:13","slug":"workers-comp-insurance-rates-to-drop-10-percent","status":"publish","type":"post","link":"https:\/\/www.northcentralmass.com\/es\/workers-comp-insurance-rates-to-drop-10-percent\/","title":{"rendered":"Workers&#8217; Comp Insurance Rates To Drop 10 Percent"},"content":{"rendered":"<p><em>Source: State House News Service<br \/>\n<\/em><em>Author: Michael P. Norton<\/em><\/p>\n<p>Attorney General Andrea Campbell announced the settlement with the Workers&#8217; Compensation Rating and Inspection Bureau and the State Rating Bureau, saying it will enable businesses to save about $130 million on workers&#8217; comp insurance starting July 1.<\/p>\n<p>&#8220;By lowering workers&#8217; compensation insurance rates, we can help better protect workers and ensure that small businesses can offer higher wages, better benefits and lower prices,&#8221; Campbell said in a statement.<\/p>\n<p>The attorney general&#8217;s office is a participant in the trial-like rate cases that are heard by the Division of Insurance and lead to rate resets. Campbell&#8217;s office said this year&#8217;s case started earlier than is required by statute because the AG &#8220;secured an order requiring that rates be reviewed sooner than the usual two-year cycle.&#8221;<\/p>\n<p>Massachusetts insurers wanted to cut the average statewide workers&#8217; compensation insurance rates by 4 percent starting in July, according to the Workers&#8217; Compensation Rating and Inspection Bureau&#8217;s\u00a0<a href=\"https:\/\/www.statehousenews.com\/news\/2023209\" target=\"_blank\" rel=\"noopener\">December filing<\/a>\u00a0with state insurance regulators. Campbell&#8217;s office said the AG &#8220;identified shortcomings in the industry&#8217;s projections and argued for a larger decrease.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p class=\"p1\"><em>Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Massachusetts Business | Massachusetts Economy | Massachusetts Chamber of Commerce | Chamber of Commerce | Government Affairs | State House News Service | Workers&#8217; Comp Insurance Rates<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: State House News Service Author: Michael P. Norton Attorney General Andrea Campbell announced the settlement with the Workers&#8217; Compensation Rating and Inspection Bureau and the State Rating Bureau, saying it will enable businesses to save about $130 million on workers&#8217; comp insurance starting July 1. &#8220;By lowering workers&#8217; compensation insurance rates, we can help [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-18748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Workers&#039; Comp Insurance Rates To Drop 10 Percent &#187; North Central Massachusetts Chamber of Commerce<\/title>\n<meta name=\"description\" content=\"Attorney General Andrea Campbell announced the settlement with the Workers&#039; 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