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Workers’ compensation insurance costs are expected to drop for Maine employers by an average of 7.7% this year, which would save employers insured through the commercial market a collective $15.2 million.
The Bangor Daily News reported the rate reduction was recommended in a report from the National Council on Compensation Insurance, which noted Maine employers had decreases in the frequency of on-the-job injuries, the severity of those injuries and the amount of time those injuries kept workers off the job. Peter Sighinolfi, executive director of the Maine Workers’ Compensation Board, told the newspaper the decrease would be the state’s largest since 1998.
For manufacturers and contractors, which are among the highest for on-the-job injuries, the average decrease in workers’ compensation insurance would be 7.9% and 9.2%, respectively. Sighinolfi told the paper the Maine Bureau of Insurance still needs to review the rate reduction recommendation before officially approving the decrease, but said it is almost certain to be approved.
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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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