Workers’ compensation loss costs in Kentucky are down for the seventh consecutive year.
The loss cost figures show an average reduction of 7.9 percent for the 590 industrial classes used in Kentucky. These classes include manufacturing, office and clerical, contracting, and goods and services.
The latest filing by the rating organization, the National Council on Compensation Insurance (NCC), has been approved by Kentucky’s insurance department effective Oct. 1.
For coal classes, underground mining costs decreased 8.9 percent and surface mining decreased 7 percent.
“These seven consecutive decreases have lowered the loss costs on average 42.2 percent in Kentucky. This is more good news for Kentucky employers and workers,” said Kentucky Insurance Commissioner Sharon Clark. “The overall picture continues to be quite positive.”
Topics Workers' Compensation
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