Minnesota’s Commerce Commissioner has issued a rate order approving a 2.6 percent increase in the overall level of the assigned risk rates for workers’ compensation insurance. The increase is effective April 1, 2009, according to the (MWCIA).
Beginning April 1, the Minnesota Workers’ Compensation Assigned Risk Plan will use a pure premium multiplier of 2.50 to be applied to the pure premium base rates of the 2009 Minnesota Ratemaking Report of the MWCIA. The expense constant on each policy will continue to be $170, according to the commissioner’s order.
The policyholder surcharge to provide for expected assessments of the Special Compensation Fund will be 3 percent of premium. The policyholder surcharge for coverage provided by the Terrorism Risk Insurance Program Reauthorization Act will continue to be $0.02 per $100 of payroll.
Source: MWCIA,
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
NAIC Victim of Cyber Incident Via PeopleSoft System 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
Big I: Independent Agencies’ Market Share Up Slightly in 2025 
