North Carolina Insurance Commissioner Wayne Goodwin announced the latest Workers’ Compensation rates that will go into effect April 1, 2015. An average of 3.4 percent decrease to loss costs is scheduled for the voluntary market and 4.5 percent decrease in residual market rates.
Industry Group Rates
- Manufacturing 2.3% decrease
- Contracting 2.8% decrease
- Office & Clerical 5.0% decrease
- Goods & Services 4.4% decrease
- Miscellaneous 2.5%
Loss costs do not include profit, expenses, dividends or contingencies. The 3.4 percent average decrease will impact nearly 95 percent of NC employers.
The remaining 5 percent of employers who have problems securing insurance are assigned to a pool of insurers. Rates for these companies are decreasing 4.5 percent on average, the rate requested by the Rate Bureau.
Charlotte Workers’ Compensation Attorneys
The Law Offices of Charles G. Monnett III & Associates has successfully represented Workers’ Compensation clients throughout North Carolina.
If you or a family member have been severely injured on the job, please contact the Law Offices of Charles G. Monnett III & Associates for a no-cost, prompt and confidential evaluation of your case. Call us today at 704.376.1911 or toll-free at 800.977.3077, 24-hours a day, seven days a week.