Although medical and indemnity costs continue to soar in many regions across the U.S., recently enacted workers’ compensation reform laws in a number of states and better industry safety and workplace practices are beginning to drive workers’ compensation insurance rates downward, according to industry sources.
“I would definitely say that [the rates are] stable to down, and around the country, we’re seeing rates probably decreasing for people who have a track record of good experience,” says Matt Walsh, managing director of Aon Construction Services Group, a division of Chicago-based Aon Corp.