Iowa Commissioner Approves Workers’ Comp Rate Hikes

Iowa’s top insurance regulator has approved a rate filing that increases workers’ compensation premium rates in that state beginning Jan. 1, 2013.

Insurance Commissioner Susan Voss OK’d a filing by the National Council on Compensation Insurance Inc., which initially proposed a 7.9 percent increase beginning Jan. 1. An amendment proposed a 3.9 percent rate increase beginning Jan. 1 for new and renewed polices with effective dates between Jan. 1 and June 30, 2013.

Policies with July 1 and later effective dates will receive the overall 7.9 percent rate increase as originally proposed.