Alaska’s worker compensation premium ranking has dropped significantly for the first time since 2002 according to a report by the State of Oregon.
In 2013 Alaska employers paid around $300 million in workers’ comp insurance premiums. In 2014, lower premiums saved Alaska businesses about $6million.
While Alaska’s rates were decreasing over the last two years, 25 states saw rate increases. For calendar year 2013 Alaska’s rates saw a decrease of 3.6 percent and in 2014 Alaska saw a decrease of 2.6 percent.
In it’s new placing, Alaska ranks fifth behind California, Connecticut, New Jersey, and New York. Previously Alaska held either the first or second place for highest rates since 2006.
For that full report, click here.