The Arkansas Insurance Department announced a decrease in workers’ compensation rates effective July 1, 2015. The overall loss cost decrease in the voluntary market is 2.1 percent, while the overall decrease in rates for the assigned risk is 3 percent. According to an Insurance Journal report, Act 796 of 1993, a major legislative reform bill in the state, is credited by most with providing the impetus for the aggressive health and safety programs which are currently in effect in many workplaces in Arkansas. Despite an overall decline in premium rates, statewide premium volume has grown since the mid-1990s.
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