State Fund board OKs workers’ compensation decrease

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By: Tribune Capitol Bureau

The Montana State Fund board of directors has reduced workers’ compensation rates by 5 percent, state officials said Wednesday, adding it was the 11th year in row that rates have remained the same or decreased…

The average overall 5 percent rate decrease will apply to any policy with an effective date in Policy Year 2018 (July 1, 2017 to July 1, 2018). The State Fund now insures about 26,000 Montana businesses and other organizations, Insurance Commissioner Matt Rosendale said.

“Montana is trending in the right direction on work comp and I’m optimistic about the impact the State Fund reduction will have on Montana businesses,” Rosendale said. “The more we continue to improve the climate for doing business in Montana, the more jobs and prosperity Montana businesses can create.”

Last week, a 7.8 percent reduction in workers’ compensation “loss costs” was approved by Rosendale and will take effect July 1.

Read more at the Great Falls Tribune