For the sixth straight year, a decrease in workers compensation insurance rates has been approved by Wisconsin’s Insurance Commissioner.
For the sixth straight year, a decrease in workers compensation insurance rates has been approved by Wisconsin’s Insurance Commissioner.
“This is great news for Wisconsin’s employers and workers,” said Insurance Commissioner Mark Afable, “as our state recovers from the pandemic, this will help provide additional relief to our businesses who could save more than $90 million thanks to the decreased rate.”
Workers compensation insurance rates are adjusted annually by a committee of actuaries, and the Insurance Commissioner has final approval over rate changes recommended by the Wisconsin Compensation Rating Bureau.
It is important to note specific rates for classification codes may increase or decrease.
