Workers' comp insurers urge Mass. regulators to allow rate hike

03/3/2010 | PropertyCasualty360 · Insurance Journal · Insurance Journal

The Workers' Compensation Rating and Inspection Bureau urged the Massachusetts Division of Insurance to approve a proposal that would raise workers' compensation rates by an average of 4.5% in what would be the state's first rate increase since 2001. Although state Attorney General Martha Coakley voiced opposition to the proposed rate hike, "claim severity has continued to trend higher due primarily to the persistent increase in medical and pharmaceutical costs," said WCRIB President Paul Meagher.

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PropertyCasualty360 · Insurance Journal · Insurance Journal

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