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Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI

Insurance Journal

The average cost of workerscompensation claims in Delaware, for cases with more than seven days of lost work, went up by 3% per year between 2019 and 2022, according to a new study from the Workers Compensation Research Institute …

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Florida OIR Approves 1% Average Workers’ Compensation Rate Decrease

Insurance Journal

Florida employers will soon see the smallest decrease in workerscompensation rates in years – just a 1% reduction from current overall rates in the voluntary market. The Florida Office of Insurance Regulation announced Monday that the insurance commissioner had …

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New York Reduces Workers’ Compensation Assessment Rate for 2025

Insurance Journal

New York employers will pay 22% less in the annual assessment to run the state’s workerscompensation system in 2025. The rate assessed on standard premiums will be 7.1% beginning January 1, 2025, down from 9.2% The Hochul …

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New Jersey Workers’ Compensation Rates to Drop 3.9% for 2025

Insurance Journal

statewide average decrease in rates for workerscompensation and employers’ liability insurance. New Jersey Commissioner of Banking and Insurance Justin Zimmerman has approved a 6.9% The new rates will apply to new and renewal policies effective January 1, 2025. The …

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Delaware Workers’ Compensation Rates to Drop 8.4% and 9.2%

Insurance Journal

Delaware Insurance Commissioner Trinidad Navarro announced that workerscompensation insurance rates will decrease for the eighth year in a row, effective December 1. The voluntary market is expected to decrease average loss costs by 8.4%, and the residual market will …

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AM Best Assigns Ratings to New York Healthcare Workers’ Compensation Carrier

Insurance Journal

AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) to Standard and Preferred Insurance Co. of Kew Gardens, New York. The outlook assigned to these ratings is stable. AM Best …

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New Jersey Workers’ Compensation Rates to Drop 3.9% for 2025

Insurance Journal

statewide average decrease in rates for workerscompensation and employers’ liability insurance. New Jersey Commissioner of Banking and Insurance Justin Zimmerman has approved a 6.9% The new rates will apply to new and renewal policies effective January 1, 2025. The …