A Comparison of Worker's Compensation Premium Rates

Wisconsin recognizes that low worker's compensation insurance premiums are a factor in attracting industry to the state and encouraging expansion. Effective 10/1/2004, WC rates were further reduced by an average of 4.15%, producing additional annual savings for employers.

Over the past 11 years Wisconsin's Worker's Compensation Premium Rates have declined by 33%, resulting in over $1 billion in savings. A study conducted in late 1996 by the State of Oregon ranked Wisconsin's Worker's Compensation Premium Rates as the sixth lowest in the nation. Within the four-state area of Wisconsin, Michigan, Minnesota, and Illinois, Wisconsin's rates are very competitive. In many cases, a Wisconsin location represents significant savings on worker's compensation premiums while buying more value.

Wisconsin Worker's Compensation Insurance Saves You Money

• Wisconsin's good industrial record and heritage as a pioneer in the development of worker's compensation programs make this possible. Our program is comprehensive and well administered.

 

• As a result, we experience a low level of litigation in comparison to other states. Fewer contested cases also mean that a significantly higher portion of the insurance premiums is paid out in direct benefits to an employee, rather than expended in litigation costs.

 

• The test of a good compensation law is prompt delivery of maximum benefits to the injured worker with a minimum of waste and with benefits in proportion to the cost to industry. No state comes near Wisconsin in meeting this model program standard.

 

• Worker's compensation insurance coverage is compulsory for Wisconsin employers.

 

• Qualified employers, usually large firms with a big risk factor and adequate financial and administrative resources, may participate in a self-insurance program.