Alaska improves in Workers’ Compensation Premium Rate Ranking Summary
Jan. 19, 2021
ANCHORAGE, Alaska — According to the 2020 Oregon Workers’ Compensation Premium Rate Ranking Summary Report, Alaska is trending in the right direction for workers’ compensation rates. In 2018, Alaska was ranked as the state with the 5th highest rate in the nation; but moved to 10th for 2020.
The study compares workers’ compensation rates among states using a constant set of risk classifications for each state. Alaska’s index rate is $1.86 – the cost per $100 in payroll – putting Alaska’s employers 10th in the nation for what they pay in workers compensation.
“Reports of injury and occupational illness continue to decrease from a high in 2015,” said Alaska Division of Workers’ Compensation Director, Charles Collins. “This is good for workers, good for employers, and good for the economy.”
“Being 10th is great news as Alaska was number one for many years,” said Alaska Division of Insurance Director, Lori Wing-Heier. “Lower premiums show that both employees and employers have placed an emphasis on safety and claims management.”
To review the 2020 Oregon Workers’ Compensation Premium Rate Ranking Summary Report, visit https://www.oregon.gov/dcbs/reports/Documents/general/prem-sum/20-2082.pdf.
The Division of Workers’ Compensation, or WC, is a division housed within the Alaska Department of Labor and Workforce Development, charged with the administration of the Alaska Workers’ Compensation Act which provides for the payment by employers or their insurance carriers of medical, disability and reemployment benefits to injured workers. For more information about WC, visit https://labor.alaska.gov/wc. For information about DOLWD and its other agencies, visit https://labor.alaska.gov.
The Division of Insurance is a division housed within the Alaska Department of Commerce, Community, and Economic Development, tasked with regulating the insurance industry to protect Alaskan consumers. For more information about DOI, visit https://www.commerce.alaska.gov/web/ins. For information about DCCED and its other agencies, visit https://www.commerce.alaska.gov.