Date: August 2, 2007
For more information contact: Mikaela Reck, Public Information Officer, (608) 267-9336 or mikaela.reck@wisconsin.gov

Wisconsin worker's compensation rates drop again

Madison, WI—The Commissioner of Insurance has announced a 2.47 percent decrease in the overall worker's compensation rate for the upcoming year, effective October 1.

"A rate decrease for worker's compensation is always good news," said Sean Dilweg, Commissioner of Insurance. "It shows that Wisconsin has considerable market stability which makes this state a great place to do business."

The change in the overall worker's compensation rate is the average change in premiums paid by all classes of jobs throughout Wisconsin. Therefore, not all industries will see a rate decrease, and some will actually experience an increase in premium rates. This rate is developed by the Wisconsin Compensation Rating Bureau (WCRB) and approved by the Wisconsin Office of the Commissioner of Insurance (OCI).

"Through the partnership of the state's insurers and the work of the Wisconsin Compensation Rating Bureau, we have been able to keep worker's compensation rates in check in the face of rising medical costs," said Dilweg.

Wisconsin became the first state to protect laborers with worker's compensation in 1911. The state divides employers into classifications according to the levels of risk (from injury or disease) associated with the specific kinds of work their employees do.

"A declining worker's compensation rate reflects a greater emphasis by employers on safety and risk management, resulting in fewer claims, lower costs for employers, and a safer, healthier workforce," said Department of Workforce Development (DWD) Secretary Roberta Gassman.

Secretary Gassman credited labor and management with creating safer work environments. In addition, the Department of Workforce Development works proactively with employers to reduce their workplace accidents and injuries. The Department offers an array of services designed to help businesses develop and implement successful workplace strategies.

Most Wisconsin employers are required by law to have worker's compensation insurance. Consumers with questions about worker's compensation may contact OCI by calling 1-800-236-8517 or visiting the Web site at oci.wi.gov. Consumers with questions regarding worker's compensation compliance and benefits may contact DWD's Worker's Compensation Division by calling 608-261-8472 or by visiting the Department's Web site at http://dwd.wisconsin.gov/wc/. The Wisconsin Compensation Rating Bureau's Web site is http://www.wcrb.org.

Created by the Legislature in 1871, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.