Minnesota’s Commerce Commissioner has issued a rate order approving a 2.6 percent increase in the overall level of the assigned risk rates for workers’ compensation insurance. The increase is effective April 1, 2009, according to the (MWCIA).
Beginning April 1, the Minnesota Workers’ Compensation Assigned Risk Plan will use a pure premium multiplier of 2.50 to be applied to the pure premium base rates of the 2009 Minnesota Ratemaking Report of the MWCIA. The expense constant on each policy will continue to be $170, according to the commissioner’s order.
The policyholder surcharge to provide for expected assessments of the Special Compensation Fund will be 3 percent of premium. The policyholder surcharge for coverage provided by the Terrorism Risk Insurance Program Reauthorization Act will continue to be $0.02 per $100 of payroll.
Source: MWCIA,
Was this article valuable?
Here are more articles you may enjoy.
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Four Georgia Troopers Fired in Vehicle Pursuit-Insurance Scheme 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
