Workers' Comp Insurance Decrease Approved by Insurance Commissioner

Date: October 31, 2018

Lower operating costs are on the horizon for small business owners thanks to North Carolina’s Insurance Commissioner Mike Causey. On Oct. 19, Commissioner Causey approved a 17.2 percent decrease for workers’ compensation insurance effective April 1, 2019.

“This rate decrease should serve as an economic boon to the state’s small businesses,” said Commissioner Causey in a prepared statement. “I am pleased to approve the North Carolina Rate Bureau request for lower rates because it will ultimately put more money in the pockets of business owners and our consumers.”

According to the North Carolina Rate Bureau, the 17.2 percent decrease is a result of insurance carrier paying out and having fewer workers’ compensation, in addition to workers’ compensation rates have decreased steadily over the last few years.

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