AGENT AGENDA ONLINE   August-September 2004   State Fund Mutual Companies  
 
 
 
WISCONSIN		  
 


Rates decrease 4 percent

  
  A 4.15 percent overall decrease in Wisconsin worker's compensation rates has been approved by the Wisconsin Commissioner of Insurance. New rates are effective Oct. 1.

Unlike Minnesota's competitive rating system, Wisconsin's system requires all workers' compensation carriers to use the same rates.

On average, rate levels have been decreased in all major industry groups:

Manufacturing -0.2 percent
Contracting -8.8 percent
Office, clerical -1.7 percent
Goods, services -5.7 percent
Miscellaneous -4.4 percent

Other highlights:

 -- For sole proprietors and partners, the annual remuneration used to calculate premiums is increased to $35,724.
 -- For executive officers, the maximum weekly remuneration is increased to $1,031 and the minimum to $206.
 -- Expense constant is increased to $220.
 -- Annual premium threshold for experience rating is increased from $5,250 to $5,750.

In announcing the overall rate adjustment, Wisconsin Gov. Jim Doyle in a news release said, "The state's mix of experience and planning (in its ratemaking advisory process) produces incremental rather than dramatic changes in the overall rate level that allows employers to better plan and manage their expenses from year to year."

State Fund Mutual, too, helps employers manage their year-to-year business expenses by providing practical loss prevention and other services that enable them to control their experience modifiers and ultimate worker's compensation costs.