Montana’s largest insurance company for occupational injury insurance announced that its board has approved a reduction of 3% on average.
If approved by the State Insurance Commissioner, the rates proposed by the Montana State Fund will apply to insurance beginning July 1 or later.
MSF said that with the ongoing reduction, average prices will be 54.1% lower than they were in 2006, the last year that the state-approved insurer raised prices. If the latest cut is approved, interest rates will be the lowest in Médecins Sans Frontières’ 32-year history.
Laurence Hubbard, president and CEO of Médecins Sans Frontières, said in a statement that the rate cut reflects ongoing efforts by state-owned enterprises to improve workplace safety.
Médecins Sans Frontières announced in November a $ 40 million dividend to nearly 22,000 policyholders that they said was possible due to increasingly secure jobs and its investment performance.
WorkCompCentral is a sister magazine to Business Insurance. More stories here.
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