Vermont Workers’ Comp Rates Likely to Go Down

Officials say Vermont businesses should be paying less for workers’ compensation insurance.

The National Council on Compensation Insurance is recommending a 13 percent drop in rates in Vermont.

If state regulators follow the recommendation, rates overall for the largest piece of workers’ compensation will drop again. Last year rates dropped 4 percent.

Vermont Department of Labor Commissioner Patricia Moulton Powden calls it extraordinarily good news.

The savings could be significant for Vermont employers who spend almost $200 million a year on workers’ compensation premiums.
Officials say the reason for the drops is simple: There have been fewer claims.

Laura Backus Hall of NCCI credits worker safety programs.