Tuesday, Nov. 3, 2009

Maine workers' comp rates to drop by about 7 pct

AUGUSTA, Maine (AP) - Maine's Insurance Bureau says workers' compensation rates will decrease by an average of 7 percent.

Insurance Superintendent Mila Kofman said Monday that an industry request for a decrease has been approved. It will lower rates in 2010 by an average of 7 percent.

Kofman said the decrease reflects employers continued efforts to promote safety in the workplace. Kofman said claims have been declining faster than increases in medical and indemnity costs for each claim.

While many employers will see a rate reduction, some businesses will experience an increase.

2009-11-03     15:21:58 GMT

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