WJBD Radio

Images

Now Playing

Local News

WJBD - Local News - Illinois Workers' Comp Insurance Rate Down 4.5 Percent

Illinois Workers' Comp Insurance Rate Down 4.5 Percent

SPRINGFIELD, Ill. (AP) — Gov. Pat Quinn's administration says the statewide average workers' compensation rate has dropped 4.5 percent.

Officials say the figure set by a national rating agency continues a downward trend that has saved Illinois employers $315 million in insurance premium costs since 2011.  The National Council on Compensation Insurance issued the figure Monday. Insurance companies often use the number to figure workers' compensation premiums.

James Stephens is deputy director of the Department of Insurance. He says the drop reflects an overall 13.3 percent decrease in the rate in the last three years.

Quinn's office says the decrease is because of a money-saving workers' compensation reform package the Democratic governor signed into law in 2011.

The rate changes take effect Jan. 1 if the Insurance Department accepts them.

See other LocalNews news:

Bids Awarded on Several Marion and Jefferson County Road and Airport Projects
State Police Offer Tips to Stay Safe During Holiday Shopping
Carlyle Man Sentenced for Centralia Robbery and Kidnapping
Fire Damages Porch of Salem Home
A Ride Home Turns Into An Arrest For Salem Police




Loyal Listener Club

Club Login

Follow Us At

This Site logo