Kentucky Workers’ Compensation Costs Drop for 4th Straight Year

Kentucky workers’ compensation costs are continuing to drop, with latest figures showing an average reduction of 6.4 percent.

Insurance Commissioner Sharon P. Clark has approved the industry’s loss cost reduction for the 598 industrial classes used in Kentucky effective Oct. 1. These classes include manufacturing, office and clerical, contracting, and goods and services. For coal classes, underground mining costs dropped 20.4 percent while surface mining decreased 13.1 percent.

Clark said this is the fourth consecutive year that costs have dropped.

The rate cuts are attributable in part to a continuing decline in the number of workplace injuries and the severity of those claims.