Rates continue downward trend

Workers’ comp premium rates continue to decline, on the heels of historic reductions in loss costs nationwide.

Loss frequency has been trending downward steeply in recent years, which has driven down cumulative claim cost. As a result, we’re seeing another cut in insurance rates across SFM’s core states.

Cumulative rate reduction in SFM's core states

State 2020 2019 2018 2017 2016
Minnesota -0.4% 1.2% -6.7% -12.1% 2.0%
Wisconsin not available -8.84% -6.03% -8.5% -3.2%
Iowa -3.0% -11.5% -10.6% -8.6% 2.7%
Nebraska -7.0% -8.1% -7.6% -4.0% -1.2%
South Dakota not available -11.9% -7.0% -1.0% -1.3%

Related posts

Topics