Work Comp rates still falling, all over the country

 Vermont and New York are looking to reduce their work comp rates. This follows what we have seen in Delaware and in most States in the country. The reason?  The recession. With 10 % unemployment across the country, work comp claims are down significantly. The caution here, and most insurance company underwriters know it, when the economy picks up and people get back to work, then the claims will come home to roost. When that happens, insurance companies are going to find it hard to raise their rates quickly enough to cover the increasing claims. I think business owners are going to see low work comp rates for a long time. Until next time be careful out there and know your risks.  K

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