Workers’ Comp Insurance Costs in Arkansas Going Down

Arkansas Insurance Commissioner Allen Kerr has approved a decrease in workers’ compensation cost of 8.4 percent in overall loss in the voluntary market and a 10.6 percent rate decrease in overall average assigned risk, effective July 1.

Kerr credits Act 796 of 1993 with providing the impetus for the aggressive health and safety programs which are currently in effect in many workplaces in Arkansas.

Some companies may experience increases or decreases in excess of the industry average. The new costs reflect only industry averages and will have varying impacts on workers’ comp rates when individual risk factors are applied for each business.

The following overall industry average cost changes will go into effect July 1, 2017:

Source: Arkansas Insurance Department