Businesses in Connecticut will receive a 6% decrease in workers’ compensation rates next year, the state announced Wednesday.
The decrease, which will take effect on Jan. 1, represents the 11th consecutive year of a decline in rates, state officials said.
The state Insurance Department said it has approved an annual workers’ compensation rate filing for 2025 with a decrease of 6.1% to the voluntary market loss costs and a 6.2% decrease in assigned risk plan rates.
Both of those decreases are smaller than those approved for 2024, when the voluntary market loss costs dropped 9.8% and the assigned risk plan rates fell 10.5%.
The trend of rates declining for more than a decade reflects a continued decline in workplace injuries and filed claims, the department said.
“These positive trends are good news for Connecticut employers and their workers,” Gov. Ned Lamont said. “Workplace safety continues to improve, and business owners are better able to manage costs and invest the savings back into their operations.”
Insurance Commissioner Andrew N. Mais said that the decreases, combined with the drop in workplace injuries and claims, means Connecticut employers have saved more than $400 million in reduced premiums.
The National Council on Compensation Insurance proposed the revised rates in a filing in September, basing them on past and prospective loss experience.
The Insurance Department’s approval and the filing can be reviewed on the department’s website.
