MO | The Missouri Department of Commerce and Insurance is recommending a 7.7 percent decrease in workers’ compensation insurance loss costs for 2022. This marks the largest overall decrease since 2009.
“Recommended loss costs are decreasing significantly for 2022, due to the continued decline in loss-time claim frequency as a result of safer work places and improved risk management,” said Department of Commerce and Insurance Director Chlora Lindley-Myers. “In addition, for the first time since 2013, there has been a decrease in the average medical cost per lost-time claim. The Missouri Workers Compensation Insurance Market remains robust and competitive with 371 carriers currently offering coverage within the state. I encourage employers to shop around for the best workers’ comp rates. The department provides an online rate checker to assist employers with comparison shopping.”