Workers’ Compensation in Arkansas down to 12.9 percent in July
Little Rock - Workers’ Compensation prices are covered by 12.8 percent on 1 July Arkansas Insurance Commissioner Julie Benafield Bowman announced Wednesday.
A comprehensive Workers’ Compensation reform legislation adopted in 1993 with the implementation of high standards of work and aggressive, health and safety programs requested decrease, said Bowman.
Prices are about 52 percent below those of 1995, Arkansas, the employer save millions of dollars, said Bowman.
Despite the overall decline in premium rates, national volume of premiums has changed since 2001, indicates that wages and employment has increased, also during this period, she said.
“Because of these investments in a stable Workers’ Compensation system, as a good tool for economic development, prices are low and employers find Arkansas an ideal place for business,” said Bowman.
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