Idaho approves 2.5% comp rate cut

The Idaho Department of Insurance approved a recommendation to reduce workers compensation rates by 2.5%, effective Jan. 1.

The decrease marks the ninth consecutive reduction in rates, the department said.

The department said the National Council on Compensation Insurance’s recommended reduction is based on claims volume, utilization, workforce and wages, as well as changes in rules or legislation.

Insurers can either adopt the NCCI rates without modification or file a proposed adjustment from NCCI’s rates for the department’s review.

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