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Workers' comp premiums could fall

One of West Virginia’s primary factors in establishing workers' compensation insurance premiums is expected to decrease 8.1 percent in November, saving the state's 36,000 employers more than $25 million.

By Amanda McGrory-Dixon | Updated on July 29, 2011

One of West Virginia’s primary factors in establishing workers’ compensation insurance premiums is expected to decrease 8.1 percent in November, saving the state’s 36,000 employers more than $25 million.

Since West Virginia privatized workers’ comp insurance on Jan. 1 2006, the rates have decreased a cumulative total average of 43.7 percent, and if Michael Riley, West Virginia’s acting insurance commissioner, accepts the newest recommendation, starting Nov. 1, overall rates will be 51.8 percent lower than they were in 2005, when West Virginia was the only workers’ comp provider.

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