FOR IMMEDIATE RELEASE

November 8, 2019

Donelon Approves Workers Compensation Rate Decrease

Louisiana Insurance Commissioner Donelon approved the annual loss cost filing of the National Council on Compensation Insurance (NCCI) effective May 1, 2020. The filing reduces Workers Compensation rates -8.4% and continues the downward trend of the last six years.

“This reduction is more welcome news for Louisiana businesses and individuals who purchase workers’ compensation insurance coverage,” said Commissioner Donelon. “Through improved workplace safety and better risk management practices, these diminishing rates continue to benefit businesses statewide. Rates have had a cumulative drop of -24% over the last five years and -55% over the last 20 years.”

Founded in 1923, the mission of the National Council on Compensation Insurance (NCCI) is to foster a healthy workers compensation system. In support of this mission, NCCI gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations in thirty-five (35) member states.

The total Louisiana workers’ compensation insurance market is estimated to be in excess of $800 million in total premium.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.