Workers’ Compensation Rates to Decrease in 2018
November 6, 2017 ANCHORAGE – Alaska businesses will see an average degrease of 5.4 percent for 2018 workers’ compensation insurance assigned risk rates. Workers’ compensation voluntary insurance loss costs will decrease by 7.9 percent.
“We are hopeful that the downward trend in workers’ compensation rates that we’ve approved the past two years will continue,” said Lori Wing-Heier, director of the Alaska Division of Insurance, “Lower workers’ compensation costs reduce the burden on the small businesses that are helping to foster a stronger Alaska economy.”
The 2018 rate reductions signify a positive continuing reduction in workers’ compensation losses. This year’s lower rates follow 2017 rates that represented a 5.1 percent reduction from the previous year. Director Lori Wing-Heier approved the filing from the National Council on Compensation Insurance on November 6, 2017.
The Division of Insurance is an agency housed within the Alaska Department of Commerce, Community and Economic Development (DCCED) tasked with protecting consumers in Alaska. For additional information about the division, visit https://www.commerce.alaska.