Tuesday, December 7, 2021 12:55pm
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Indiana Department of Insurance Commissioner Amy L. Beard recently approved an average 0% change for Workers’ Compensation rates, effective January 1, 2022.
“We are pleased to approve rates with a zero percent average change to help support Indiana businesses as they grow their companies,” said Commissioner Beard.
Workers’ compensation insurance covers medical costs associated with workplace injuries and provides wage replacement benefits to injured workers for lost work time.
Indiana Workers’ Compensation rates consistently rank one of the lowest in the United States, according to the Oregon Workers’ Compensation Premium Rate Ranking report. The Information Technology and Research Section in the Oregon Department of Consumer and Business Services has examined state rates on a biennial basis since 1986.
About Indiana Department of Insurance
The Indiana Department of Insurance protects Indiana's insurance consumers by monitoring and regulating the financial strengths and market conduct activities of insurance companies and agents. The department monitors insurance companies and agents for compliance with state laws to protect consumers and to offer them the best array of insurance products available. The department also assists Hoosiers with insurance questions and provides guidance in understanding how insurance policies work.