AUGUSTA (AP) — The Maine Bureau of Insurance says a decrease in workers’ compensation loss costs will result in more than $9 million in savings for businesses in the state.
Insurance superintendent Eric Cioppa says the bureau has approved the National Council on Compensation Insurance’s 2017 loss cost for Maine.
The council proposed a premium decrease of 4.3 percent.
The state says the new rates went into effect for new and reviewing policies on April 1.
The National Council on Compensation Insurance is an advisory rating organization for insurance companies that offer workers’ comp coverage in the state of Maine.
Comments are not available on this story. Read more about why we allow commenting on some stories and not on others.
We believe it's important to offer commenting on certain stories as a benefit to our readers. At its best, our comments sections can be a productive platform for readers to engage with our journalism, offer thoughts on coverage and issues, and drive conversation in a respectful, solutions-based way. It's a form of open discourse that can be useful to our community, public officials, journalists and others.
We do not enable comments on everything — exceptions include most crime stories, and coverage involving personal tragedy or sensitive issues that invite personal attacks instead of thoughtful discussion.
You can read more here about our commenting policy and terms of use. More information is also found on our FAQs.
Show less