Comp rates continue to dip in Louisiana

Louisiana Insurance Commissioner Jim Donelon has approved a 10.5% reduction in workers compensation rates starting May 1.

The latest reduction continues the downward trend of decreases seen in eight of the last nine years, with workers compensation rates falling “dramatically” over the past two decades, according to a statement from Mr. Donelon’s office. The reductions have resulted in a cumulative drop of 25% over the last five years, 38% over the last 10 years, and 57% over the past 20 years.

The latest reduction is in line with the filing of the National Council on Compensation Insurance, which provides rate-making services for the state.