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Thursday, June 23, 2011

The Montana State Fund Decreases Its Workers Compensation Insurance Rates

The Montana State Fund (MSF) Board of Directors has adopted an overall average decrease of twenty percent for premium rates effective July 1, 2011.  Rates may differ as individual class codes can vary up or down each year from the prior year rates, depending on the average losses for all the businesses in the class code.  The new rates apply to any policy with an effective date in Policy Year 2012 (July1 ,2011 to July 1, 2012).
House Bill 334 (HB334) enacted by the 2011 Montana Legislature is expected to significantly reduce workers' compensation costs.  Most of the provisions in that legislation become effective for injuries that occur July 1, 2011 and later.

For more information please contact our office or visit the Montana State Fund website at montanastatefund.com