State Fund says workers' comp rates to drop next year

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By The Associated Press

Story Published: May 8, 2008 at 7:03 AM MST

Story Updated: May 8, 2008 at 7:03 AM MST

HELENA - The board of the Montana State Fund has announced that workers' compensation insurance rates will be reduced next year by an average of 3%.

The move marks the second year in a row the agency has announced modest reductions. The State Fund is a semiprivate branch of state government and is Montana's largest workers' compensation insurance company. The rate cut is only an average. The State Fund says individual rates could be as much as 40% higher or lower than this week's announced reduction.

The agency says workers' comp rates for individual companies are based on many factors, including how dangerous the work is and how many on-the-job injuries a business reported the year before.

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