Montana State Fund Lowers Rates for Upcoming Policy Year
Montana State Fund’s board of directors announced an average overall 5 percent decrease in workers’ compensation rates for 2016.
The decrease is for any policy with an effective date in policy year 2016, which is July 1, 2015 to July 1, 2016.
Laurence Hubbard, president and CEO of Montana State Fund, attributed the decrease to improved workplace safety.
The board has not increased premium rate levels for the past eight years. With the announced decrease, Montana State Fund rates will have been decreased by 39 percentage points below the level they were on July 1, 2006, or an average annual decrease of over 4 percent.
Montana State Fund provides workers’ comp coverage to more than 26,000 employers in the state.
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