Workers’ Compensation prices continue to fall
The national commissioner of insurance Julie Benafield Bowman said Wednesday, Arkansas saw a decline of the Workers’ Compensation, whose quotas by about 52 per cent since 1995.
Bowman due to the decrease in the passage of a Workers’ Compensation reform legislation during the year 1993, as well as on improving labour standards and aggressive health and safety.
The 52 percent drop this year 12.8 per cent drop in prices, she said, adding that the decline resulted in millions of dollars in savings for employers Arkansas.
Bowman said that despite the decline in premium rates, national volume of premiums has changed since 2001, indicates that wages and employment has increased, even during this period.
“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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