Thank you to Attorney General Andrea Campbell and team for successfully fighting for workers' comp rate reductions. The 10.2% decrease from last year's worker's compensation rates is an average across plans will save businesses about $130 million over the next year. Some welcome relief to help business provide much need benefits for workers injured on the job!
Usually the rate revision process happens every two years, but the Attorney General had secured an agreement to have insurers review their rates a year earlier than required. The Workers’ Compensation Rating and Inspection Bureau of Massachusetts, which represents comp insurers in MA, made an initial filing to reduce rates paid by employers by 4%. The Attorney General, which can serve as a party to these cases, successfully argued that insurers could provide greater cost savings.