Mass. Attorney General Forces Rollback In Workers’ Comp Premiums
May 4, 2023
On April 6th Massachusetts Attorney General Andrea Joy Campbell announced resolution of an administrative rate trial at the Division of Insurance that will result in a 10 percent rollback of workers comp insurance rates for the state’s employers beginning July 1. Businesses will save $130 million in premiums. The settlement was with the Workers’ Compensation Rating and Inspection Bureau and the State Rating Bureau. According to Campbell, Massachusetts sets rates every two years, and the attorney general’s office litigates the cases to ensure fair rates for policyholders. Her office stepped in after data filed by the state’s insurance companies suggested a rate decrease of about four percent. Campbell spotted shortcomings in the industry’s projections and argued for the larger decrease.
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