AK | Alaska businesses will see another year of decreased workers’ compensation insurance rates in 2021. Workers’ compensation voluntary loss costs will decrease by an average of 14.9 percent. Assigned risk rates will decrease by an average of 9.6 percent from the current approved levels.
The 2021 rate reductions signify a positive downward trend in reduced workers’ compensation losses. This year’s lower rates follow 2020 rates that represented a 13.4 percent reduction from the previous year.
Since 2015 rates have been reduced by approximately 46 percent, which can be attributed to continuing declines in claim frequency and favorable changes in medical cost trends.