State’s Workers’ Compensation rates should drop for the third year in a row, however that will not prevent the Partisan attack on Missouri’s Workers Compensation laws in the 2017 session.
Missouri employers should expect to see a continued decrease in Workers’ Compensation rates for 2017.
Governor Jay Nixon recently announced progress in Workers’ Comp insurance costs. The Missouri Department of Insurance is recommending a 4.6 percent decrease in Workers’ Comp insurance loss costs next year. That would translate into the third year in a row of decreases in such costs to businesses, with rates sliding down by 9.8 percent over that period.
Out of the state’s 337 active workers’ comp insurers jockeying for business, a total of 225 insurers filed rate decreases this year, with an average decrease of 2.9 percent.