Premiums Decline For Workers’ Comp

Gov. Phil Batt credited employers’ commitment to safety for what will be an average 6 percent decline in workers’ compensation insurance premiums in 1999.

“This is an important and welldeserved incentive for business expansion and retention,” the governor announced Wednesday. “These business savings translate into higher wages and higher profits.”

The State Insurance Fund provides workers’ compensation coverage for three-quarters of the state’s businesses and half its workers. It was created in 1917 to provide workers’ compensation coverage for businesses unable to find affordable policies elsewhere.