Vermont Workers’ Comp Rates Likely to Go Down
Officials say Vermont businesses should be paying less for workers’ compensation insurance.
The National Council on Compensation Insurance is recommending a 13 percent drop in rates in Vermont.
If state regulators follow the recommendation, rates overall for the largest piece of workers’ compensation will drop again. Last year rates dropped 4 percent.
Vermont Department of Labor Commissioner Patricia Moulton Powden calls it extraordinarily good news.
The savings could be significant for Vermont employers who spend almost $200 million a year on workers’ compensation premiums.
Officials say the reason for the drops is simple: There have been fewer claims.
Laura Backus Hall of NCCI credits worker safety programs.
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