AUGUSTA (AP) – Improved safety efforts on job sites in Maine are cited as a reason for a requested decrease in workers compensation insurance rates.
The National Council on Compensation Insurance, an advisory rating organization for companies that offer workers’ comp insurance, is asking state regulators for an average rate decrease of 2.2 percent next year.
Acting Insurance Superintendent Eric Cioppa (CHOP-pah) says workers comp claims are decreasing faster than increases in medical and indemnity costs claims.
Cioppa says that’s due in part to continued safety efforts of Maine employers.
If approved, the new rates will reduce premiums in the insured market by about 5.5 million dollars.
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