AUGUSTA, Maine — Maine insurance regulators say they’ve approved a 3.2 percent decrease in workers’ compensation rates, which will result in $6 million in lower premiums for businesses.
The Bureau of Insurance says the lower rates as requested by an industry rating organization, the National Council on Compensation Insurance, apply for the 2012 premium year.
Insurance Superintendent Eric Cioppa says the 3.2 percent average rate decrease can be attributed in part to a continuing focus on safety by Maine employers.
Cioppa says the approved decrease should reduce premiums in the insured market by about $6.1 million per year. While some businesses will experience an increase, most employers will see a decrease.