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MSF Announces Decrease In Rates For Upcoming Policy Year

04 May, 2010 WorkersCompensation.com

                               Helena, MT - Montana State Fund's Board (MSF) of Directors has adopted an overall average decrease of four percent for premium rates effective July 1, 2010.
 
Rates are determined by looking at the types of jobs and business classifications of policyholders, as well as individual loss history. Overall average rates for customers may vary up or down depending on industry and loss experience. New rates take effect July 1, 2010.
 
MSF and other Montana workers' compensation carriers use the NCCI (National Council on Compensation Insurance) annual loss cost filing report to help formulate premium rates. NCCI, a national not for profit advisory group, analyzes payroll and losses from all insurance carriers in Montana to recommend the loss costs for the many class codes in Montana. The recommended NCCI loss costs are used by Montana State Fund to establish the rates to be charged for the coming year.
 
Montana State Fund provides workers' compensation coverage to over 28,000 employees in the state, making it the largest workers' compensation insurance company in Montana.
 
Source: Montana State Fund 

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