Workers Compensation insurance rates to drop in Indiana

The rate employers pay for Workers Compensation is about to drop in Indiana.

Effective January 1st, 2017, a 9.3% reduction is expected to save Indiana businesses more than $82 million dollars, according to Inside Indiana Business.

The rate is connected with medical costs associated with workplace injuries and provides wage replacement benefits to injured workers for lost work time. “We are proud that Indiana continues to produce some of the lowest Workers’ Compensation rates in the nation. With overall rates decreasing in 2017, Indiana intensifies its tradition of offering employers a welcoming and responsive business environment,” saidIndiana Department of Insurance Commissioner Stephen W. Robertson.

The Indiana Department of Insurance protects Indiana’s insurance consumers by monitoring and regulating the financial strengths and market conduct activities of insurance companies and agents.