WI Workers Compensation Rates drop by 8.8%
The new rates were approved by the Commissioner of Insurance and will be effective 10/1/2019.
This marks the fourth consecutive year that the rates have decreased (2018 by 6.03%, 2017 by 8.46%, and in 2016 by 3.19%). The reduction in rates are consistent with the national trend. Wisconsin has continued to show positive results compared with other states. Also, Wisconsin businesses continue to get their employees back to work faster helping to reduce cost.
The major groups that will be effected by this rate decrease are: Contractors by 11.21%, Office/Clerical by 8.75%, Goods and Services by 8.66%, Manufacturing 8.11. Overall, about 93% of all classes will see a decrease for the upcoming year.
Got questions about your Workers Compensation rates or program. Give us a call at 920-347-9115.