Decline seen in Pa. workers' compensation costs (2/13)
Workers' compensation costs in Pennsylvania will decrease 10.22 percent overall, or $250 million, in total, Gov. Edward G. Rendell said. Rendell said the reduction comes as a result of decreases in the frequency of compensation claims.
The decrease comes as the Pennsylvania Insurance Department approved the Pennsylvania Compensation Rating Bureau's recent filing, which establishes a schematic for insurance companies to write workers' compensation premiums based on their industry, risk factors and their clients' claims history.
Some employers will see savings, others will not. Employers who enroll in the Pennsylvania Department of Labor and Industry's Certified Workplace Safety Committee program can receive a discount of 5 percent more. About 7,500 Pennsylvania businesses with more than a million workers are involved in the program, according to www.philly.com.
The decrease comes as the Pennsylvania Insurance Department approved the Pennsylvania Compensation Rating Bureau's recent filing, which establishes a schematic for insurance companies to write workers' compensation premiums based on their industry, risk factors and their clients' claims history.
Some employers will see savings, others will not. Employers who enroll in the Pennsylvania Department of Labor and Industry's Certified Workplace Safety Committee program can receive a discount of 5 percent more. About 7,500 Pennsylvania businesses with more than a million workers are involved in the program, according to www.philly.com.
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