Connecticut Workers Compensation Costs Drop for 12th Straight
Year: Insurance Department Approves Filing Effective January 1, 2027,
With Voluntary Loss Costs Down 4.9% on Average
Workers compensation costs for Connecticut businesses will drop again,
for the 12th straight year. State Senator Cathy Osten welcomed the
news in a statement on November 13, crediting a business-friendly
change in the law that she proposed and led to passage in 2014.
The Connecticut Insurance Department has approved an annual filing
effective January 1, 2027, that reduces voluntary market loss costs by
an average of 4.9% and reduces assigned risk rates by an average of
5.8%.
Voluntary market loss costs reflect the expected cost of paying
workers compensation claims and related loss adjustment expenses.
Insurers use those costs, along with their own approved expenses and
other factors, to determine the premiums charged to employers, while
assigned risk rates apply to employers who are unable to obtain
workers compensation coverage in the voluntary market.
The 2014 law, Senate Bill 61, concerning workers compensation and
liability for hospital and ambulatory surgical center services,
changed the way Connecticut businesses pay for workers compensation.
The bill was praised at its public hearing by business groups and
opposed by hospitals.
Osten is a Democratic state senator from Sprague. The approved
reductions are statewide averages taking effect January 1, 2027, and
each employer's actual premium still depends on its insurer's pricing
and its own circumstances.
Source: Connecticut Insurance Department
Published by GSM · USA (original Chinese edition)
Photo: 图：康涅狄格州议会大厦，位于哈特福德。MMDA-Photos 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: The Connecticut State Capitol in Hartford. Photo by MMDA-Photos, CC BY-SA 4.0, via Wikimedia Commons.
