Safer workplaces contribute to lower workers’ compensation rates in Alaska
Aug. 31, 2020
JUNEAU, Alaska — The Division of Workers’ Compensation has released the results of the National Council on Compensation Insurance (NCCI) filing with the Alaska Division of Insurance for 2019. This data provides for risk rate changes for Alaskan companies. NCCI’s filing proposes a 17.5 percent loss cost decrease in voluntary market and 11.2 percent decrease in assigned risk market.
The filing is based on premium and loss experience for policy years 2015, 2016, 2017 and 2018 as evaluated in December 2019. The policy years show favorable loss experience and loss cost decreases in line with national numbers which have trended downward for several years.
Commissioner of the Department of Labor and Workforce Development Dr. Tamika Ledbetter stated, “The Division of Workers’ Compensation has worked with the business community to reduce costs by encouraging safer workplaces, technological advancements in workflow, improved risk management and better cost management of medical services. This has allowed Alaskan businesses to operate with greater efficiency without risks to the Alaskan workforce while reducing overall costs.”