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Pa. workers' compensation rates drop, state says

Published On: Mar 29 2013 08:51:15 AM EDT
HARRISBURG, Pa. -

The state Insurance Department says a workers' compensation insurance rate reduction will go into effect next week for employers.

The department said that the overall 4 percent decrease that takes effect Monday could mean as much as $110 million in savings for Pennsylvania employers.

It says the estimate may vary according to claims experience, payroll and other factors, and not all employers will see a decrease.

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Workers' compensation insurance provides for the cost of medical care and rehabilitation for injured workers, and lost wages and death benefits for the dependents of people who are killed in work-related accidents.

The department says employers should contact their insurance agent before their next renewal date to find out how their premium will change.