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| Mon, Sep. 8, 2008 |  |
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Workers' compensation in Arkansas to fall 12.9 percent in July Thursday, Apr 24, 2008 Arkansas News Bureau LITTLE ROCK - Workers' compensation rates will fall 12.8 percent on July 1, Arkansas Insurance Commissioner Julie Benafield Bowman announced Wednesday. An all-encompassing workers' compensation legislative reform package passed in 1993, along with the implementation of high workplace standards and aggressive health and safety programs prompted the decrease, Bowman said. Rates are about 52 percent lower than they were in 1995, which saves Arkansas employers millions of dollars, Bowman said. Despite the overall decline in premium rates, statewide premium volume has grown since 2001, indicating that wages and employment have also grown during that period, she said. "Because of these investments in a stable workers' compensation system, which is recognized as a prime economic development tool, rates are down and employers are finding Arkansas a great place for business," Bowman said. |
