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Kansas Businesses To Pay Less In Workers' Comp Coverage

blog.lawinfo.com

Thousands of businesses in Kansas will pay much less for workers’ compensation coverage next year.

The state has approved lower insurance rates proposed by the National Council on Compensation Insurance. About 65,000 businesses will see rate decreases of about 10 to 12 percent for workers’ comp premiums, which cover the cost associated with injuries to employees.

According to Clark Shultz of the Kansas Insurance Department, safety is to thank for the lowered rates. He says the process is a bit like car insurance: The fewer workplace injuries, the less businesses have to pay for coverage.

“If you can keep people from being hurt in the first place, it’s obviously good for the workers and the businesses," Shultz says. "But, it also translates to lower insurance premiums.”

Shultz says the state has seen a significant drop in high-cost injury claims. He adds that workers’ compensation is a significant cost for businesses and that the rate decreases should be welcome news for many employers throughout Kansas.

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Follow Sean Sandefur on Twitter @SeanSandefur

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