The Missouri Department of Commerce and Insurance said that employers should see a reduction in workers’ compensation rates in 2024, the third straight year of declining rates.
The NCCI recently proposed an overall decrease of 7.5 percent for 2024 workers’ compensation loss costs.
The 7.5 percent decrease in loss costs between Jan. 1, 2023 and Jan. 1, 2024 is driven by data collected on an annual basis showing a decline in average indemnity and medical costs per lost time claim.
