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This marks the ninth consecutive year that the department has approved rate decreases for workersâ€™ compensation insurance.
â€œEven if it is more expensive,â€ declared State Sen. Julie Kushner (D-Danbury), â€œthatâ€™s the cost of doing business.â€
Mention â€œworkersâ€™ compensation insuranceâ€ and most people think fraud, waste, expense or just roll their eyes. The real story, however, is far more profound.
The Reno-based company now provides workers' comp insurance to small businesses in 36 states, plus the District of Columbia.
Workersâ€™ compensation cost employers $77.1 billion in 2011, an increase of 7.1 percent over 2010.