Today’s issue of WorkCompRecap comes back a little chubbier after the weekend to feature Missouri Governor Jay Nixon’s announcement that employers in the state should see a continued decrease in workers’ compensation insurance costs in 2017.
The Missouri Department of Insurance has recommended a 4.6% decrease in workers’ comp loss costs for 2017, which would mark the third consecutive year of decreases in costs for businesses. Rates will have gone down 9.8% in total over that time. Nixon also noted that of Missouri’s 337 active workers’ compensation insurers competing for Missouri business, 225 insurers filed rate decreases in 2016 with an average decrease of 2.9%.
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