Biz New Orleans published a feature on dropping workers’ comp rates in Louisiana. Specifically, rates have fallen by more than half in the past twenty years, with state Insurance Commissioner Jim Donelon citing safety, rather than new laws, as the main driver. A recent voluntary survey by the U.S. Bureau of Labor Statistics showed that among 41 states and the District of Columbia, Louisiana had the second-fewest non-fatal injuries and work-related illnesses. Experts and stakeholders explain in the piece that today’s market stands in stark contrast to the 1980s, when workers’ comp was “in crisis.” The creation of LWCC in 1991 is cited as a major component of the revitalization of comp across the state.
Read the feature here.