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December 2, 2008

Workers' comp rate expected to go down

By The Mainebiz News Staff

Workers' compensation premiums are expected to go down for Maine employers next year thanks to fewer workplace accidents in the state.

Mila Koffman, Maine's superintendent of insurance, has signed off on a recommended 7.6% reduction in workers' comp rates, according to the Sun Journal. The recommended rate decrease came from the National Council on Compensation Insurance, which annually advises states on workers' comp rates based on the number of workplace injuries reported in the past year, the paper said.

Insurance companies ultimately decide whether to follow the recommended rate reduction, but Paul Dionne, the executive director of the state's Workers' Compensation Board, told the Sun Journal that most do.

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