NEPA Work Injury Lawyer- Workers Comp Rate Decrease

Date: March 13, 2012

The Pennsylvania Insurance Department has approved a 5.7 percent decrease in overall workers’ compensation costs to employer and insurance carriers. This will likely result in approximately $160 million in savings for Pennsylvania employers. In making this announcement,  Pennsylvania Insurance Commissioner Mike Consedine stated “At a time when many are feeling a financial pinch and doing more with less, it is a very hopeful sign that the business community may now be able to pay less in workers’ compensation insurance premiums. Our workers’ compensation insurance system is sharply competitive, yet this marks the first time in three years that the Pennsylvania Compensation Rating Bureau has filed for a rate decrease.”  The Pennsylvania Department of Labor & Industry press release accompanying this announcement indicated that employers can expect, on average,  a 5.7 percent rate decrease in 2012. However, some will see rates go up while some may see no change, and others will see rates go down beyond the 5.7 percent. The rates will vary according to type of business, as well as the employer’s workers compensation claims history.

Tom Cummings
Thomas P. Cummings has been a Partner with Dougherty Leventhal & Price, LLP since 1996 and has been with the firm since 1991. He focuses his practice on workers’ compensation, Social Security Disability and personal injury cases.