Study Ranks ND Workers Comp Rates Lowest

STUDY RANKS ND WORKERS COMP RATES LOWEST 1/31/03 - In 2002, North Dakota employers paid the lowest workers� compensation premium rates in the nation, according to a new survey by the Oregon Department of Consumer & Business Services. National premium rates ranged from North Dakota�s low of $1.24 per $100 of payroll to a high of $5.23 per $100 of payroll in California. �This is great news,� said Brent Edison, Executive Director and CEO of North Dakota Workers Compensation (NDWC). �With the legislative reforms of the mid-1990�s and the strategic decisions made by our Board of Directors, we have come a long way in making our organization one of the best in the country. This survey clearly demonstrates how far we have come.� North Dakota employer premium rates have declined for 8 straight years. Total premium collected peaked in Fiscal Year 1996 at $133 million dollars, while in fiscal year 2002 it was $93 million dollars, a 30 percent reduction since 1996. During that same time period, claims by workers have declined from 7.47 per 100 workers in 1996 to 6.60 per 100 workers in 2002. ND employer�s emphasis on safety and �returnto- work� programs, which began in the mid-1990�s has helped to reduce the number of wage-loss claims, thus reducing premiums. �The cumulative effect of 8 years of premium reductions means that over $130 million dollars has gone back into this state�s economy,� said Edison. �We hope those involved in economic development efforts for our state can use this important information to show potential businesses thinking of relocating here, that this is a great state to do business with, especially when it comes to workers� compensation premium rates.� BACK TO HOME PAGE