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Massachusetts Rejects Workers Comp Rate Hike

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Posted on 31 Aug 2012 by Neilson

Workers Comp Rate HikesState insurance regulators in Massachusetts have rejected a request for a nearly 19 percent increase in Workers' Compensation rates.

Insurance Commissioner Joseph Murphy said Thursday the decision means rates will be unchanged on Sept. 1, saving employers in Massachusetts an estimated $200 million that would have gone toward higher premiums.

The 18.8 percent increase was sought by the Workers' Compensation rating and Inspection Bureau, a consortium of licensed insurers in the state.

Murphy said regulators could not justify the proposed hike after analyzing information presented during a five-month hearing process.

Workers compensation provides coverage for health care costs and lost wages for workers injured on the job. Businesses are required to carry workers comp insurance.


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