Large decreases in costs for insurers have led to sharply falling rates for workers' compensation coverage in Louisiana, the state's insurance commissioner said today.
"This is positive news for our state's workers' compensation market," said state Insurance Commissioner Jim Donelon. "Our market is healthy and viable."
According to the Louisiana Department of Insurance, most carriers writing workers' comp coverage in the state formulate their rates based on the National Council on Compensation Insurance annual loss cost filing report.
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