Workers Compensation Rates Skyrocket in Connecticut

Connecticut employers are facing dramatic workers compensation insurance rate hikes.  The increases were proposed by the National Council on Compensation Insurance and approved by state insurance regulators and will take place January 1.  Though average policy increases will be 5.8 percent, some will see increases of 31 percent.

Lori Pelletier is the secretary-treasurer with the Connecticut AFL-CIO.  Last legislative session her organization lobbied for the creation for a nonprofit workers compensation insurance company.  However, the bill that supported the state chartered mutual insurance company died in the House.  Pelletier, and others such as Sen. Joseph Crisco, will be pushing to try the bill again after the first of the year.

“Absolutely we are going to pursue it,” said Pelletier.  “It makes business sense.”

Proponents of a new bill believe that the creation of a competing workers compensation insurance company in Connecticut would bring down insurance costs by increasing competition in the market.  The state plan would, hopefully, bring down costs for businesses, allowing them to expand and offer better benefits to their employees.

Connecticut workers’ compensation is intended to help injured workers pay for medical care and rehabilitation costs.  Loss of wages, both temporary and permanent, should also be covered by workers comp.

As workers compensation attorneys in Connecticut we will be carefully watching any developments in this story and will bring you updates as they occur.

 

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