Wisconsin approves 5.44% decrease in comp rates

Wisconsin has approved a combined 5.44% decrease in workers compensation rates, which is expected to save businesses more than $90 billion, state Insurance Commissioner Mark Afable announced Thursday.

The state’s five major industry groups will all see a decrease: contracting (5.35%), goods and services (6.39%), office and clerical (4.21%), manufacturing (5.53%) and miscellaneous industry (4.12%).

The rate change will take effect Oct. 1, 2021.