• Workers' Comp Rates to Decline in 2018

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    January 15, 2018
    In a rare and unusual move, the State Workers' Compensation Rating & Inspection Bureau has filed for a statewide average rate decrease of 11.1% for 2018. The overall reduction of 11.1% is due to many factors, including intense management awareness of loss control measures and post injury claims management.
     

    The filing includes significant rate reductions in Steel erection codes.  In addition to the improved loss profile, it is due to the effort to combine the decking class code 5538 Scopes language into the steel erection codes 5040 and 5059 and thereby produce a new rate for 5040 of $24.12 (was $59.07) and 5059 of $16.76 (was $26.45).  Decking code 5538 will no longer be available for steel erection work.  American Risk Management represented the Building Trades Employers Association and the Associated General Contractors of Massachusetts at the hearings held for this purpose.


    Click here to view the WCRIB Proposed Rates
    Click Here to view the WCRIB Steel Erection Deck
    Contact:
    Daniel F. Cook, American Risk Management, Inc. CEO
    dancook@arisk.com, 7812451590

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