Indianapolis, IN – On October 5, 2016, Indiana Department of Insurance Commissioner Stephen W. Robertson approved a 9.3 percent reduction for Workers’ Compensation rates to be effective January 1, 2017. The approved rate decrease will result in savings of approximately $82.7 million dollars for Indiana businesses.
“We are proud that Indiana continues to produce some of the lowest Workers’ Compensation rates in the nation. With overall rates decreasing in 2017, Indiana intensifies its tradition of offering employers a welcoming and responsive business environment,” said Indiana Department of Insurance Commissioner Stephen W. Robertson. “The significant savings will help support Indiana businesses and encourage continued job growth for Hoosiers.”
Workers’ compensation insurance covers medical costs associated with workplace injuries and provides wage replacement benefits to injured workers for lost work time.
Source: IN DOI