Helena, MT – Insurance Commissioner Matt Rosendale has approved a nearly 11 percent reduction in Montana workers compensation loss costs. The 10.7 percent overall average decrease was filed by the National Council on Compensation Insurance (NCCI) and will take effect on July 1, 2018.
“This is fantastic news for Montana’s businesses, from small mom and pop shops to large companies,” Rosendale said. “This is the biggest decrease we’ve seen in seven years, following the bipartisan reforms I helped pass in the 2011 legislative session.”
“As someone who spent years in the private sector, I’m incredibly pleased to report this good news. By lowering the cost of doing business in our state, we improve the environment for creating jobs and opportunity for Montanans,” Rosendale continued.
The approved loss costs will be used by both private workers compensation insurers and the Montana State Fund in establishing premiums.
Source: MT Commissioner of Securities & Insurance