The Wisconsin Department of Workforce Development and the Wisconsin Office of the Commissioner of Insurance announced that average workers’ compensation insurance rates for employers will drop 3.2% statewide effective Oct. 1.
This year’s cut marks the 10th straight annual decrease in Wisconsin workers’ compensation premiums.
Actual premiums vary by employer and industry based on factors such as job risk and claims history.
“Employers doing business in Wisconsin can count on our competitive insurance marketplace for affordable, high-quality workers compensation coverage to keep their business and employees safe,” insurance commissioner Nathan Houdek said.
Each year, the Wisconsin Compensation Rating Bureau analyzes claims and loss trends and proposes adjustments to workers’ compensation rates. The Commissioner of Insurance reviews and approves the filing.
