SC Workers Comp Rates Set to Decrease

South Carolina Workers Comp Premiums Will Go Down in 2nd Half of 2014 SC workers comp premiums are set to decrease by 7.4% in the second half of 2014, after two years of moderate increases. Director of Insurance Ray Farmer agreed to the new SC workers compensation rates, which he says will take effect on September 1st this year. “We’ve had a good sign when it comes to frequency and severity and this is another positive for businesses in South Carolina,” said Farmer. The National Council of Compensation Insurance (NCCI) filed for the … [Read more...]

Massachusetts Says No to Workers Comp Rate Hike

After Battle, Massachusetts State Agencies Have Agreed to No Workers Comp Rate Increase Massachusetts state agencies and the state’s Workers Compensation Rating and Inspection Bureau have agreed not to raise workers comp rates after all. The state’s Attorney General, Martha Coakley, announced the settlement agreement on Friday, March 21st. She says the agreement will save Massachusetts businesses $75 million in workers comp rates. Originally, a 7.7% rate increase was proposed by the workers comp insurance industry, particularly large … [Read more...]