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The state’s Bureau of Insurance approved a lower loss cost for workers’ compensation insurers, a move the bureau said stands to reduce premiums by 7.7%, saving employers up to $15 million.
The recommendation for the decrease came from the National Council on Compensation Insurance, which advises states on establishing a loss cost, which insurers in the state can use for guidance.
The bureau previously estimated the decrease stands to lower workers’ compensation premiums for manufacturers and contractors, which are among employers with the most on-the-job injuries, by 7.9% and 9.2%, respectively.
The new loss cost will be effective for new and renewing policies starting April 1, 2014.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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