HELENA, MT – Commissioner of Securities and Insurance Matt Rosendale has approved a nearly 8 percent reduction in workers compensation loss costs. The 7.8 percent overall average loss cost decrease was filed by the National Council on Compensation Insurance (NCCI) and will take effect on July 1, 2017.
“This is fantastic news for Montana’s small businesses,” Rosendale said. “We are continuing to see a decline in workers compensation rates, largely as a result of the bipartisan work we did in the 2011 legislative session.”
“As someone who spent years in the private sector, I’m incredibly pleased to report this good news. By lowering the cost of doing business in our state, we improve the environment for creating jobs and opportunity for Montanans,” Rosendale continued.
The approved loss costs will be used by private workers compensation insurers and also the Montana State Fund in establishing their premium rates.
More information about the approved loss cost filing is available here.