Health insurance and many other business costs may keep rising, but Bay State businesses could see some relief in their workers comp costs for the coming year.
Attorney General Martha Coakley and the State Ratings Bureau are initiating a hearing process to seek reductions in the rates that companies pay for workers compensation insurance in 2008. In May, state officials announced a 16.9 percent rate rollback for the previous year, and the settlement also gave the Attorney General’s office and the State Rating Bureau the right to trigger another rate hearing in 2008. After reviewing recent industry data, the office decided to do so.
The Attorney General’s Insurance and Financial Services Divisions are handling the hearing process.
