Vt. Workers’ Comp Rates Drop

Most Vermont employers for the second straight year will see lower workers’ compensation premiums become effective April 1.

Rates for loss costs in the voluntary market will decrease by an average of 4.2 percent, according to Gov. Jim Douglas’s office. Loss costs are the primary component of workers’ compensation rates.

It marks the state’s largest decrease in voluntary market loss costs since 1998.

“These lower rates demonstrate that an emphasis on workplace safety and a healthy, predictable regulatory environment for insurers can help bring rates down for most employers,” Douglas said.

The governor gave credit to the state agencies that he said have been active in promoting a culture of safety in workplaces across Vermont.