2013 comp rates announced
Idaho will see an overall increase in workers compensation rates in 2013 of approximately 3.9 percent.
Policyholders should not expect their rates to go up exactly 3.9 percent when their policies are renewed. Rates are set for approximately 600 classifications for various types of employment. The 3.9 percent increase is an overall average. Some policyholders’ rates may increase, while others may experience decreases. The actual premium for individual policyholders also is affected by claims experience.
The State Insurance Fund has gained approval from the Department of Insurance for a 9 percent deviation, or across-the-board cut, from the standard rates approved for 2013.
The 2013 rates were proposed by the National Council on Compensation Insurance and approved by the Department of Insurance. The NCCI is a rating organization whose membership consists of workers compensation insurers.
SIF 2013 rates