HELENA — The Montana State Fund, the state's largest provider of workers' compensation insurance, announced it is lowering premiums for policyholders.
According to a press release, the average rate reduction approved by the MSF Board of Directors is around five percent.
“As the state’s largest workers’ compensation insurer, it is our goal to be a predictable and stabilizing force for the Montana economy,” said Richard Miltenberger, MSF Chairman of the Board. “With this reduction, MSF has now kept rates steady or lowered them for 17 consecutive years. In fact, rates are now 56.4% lower than they were in 2006.”
MSF cited fewer workplace accidents and workers returning to work as soon as medically appropriate are big factors in the decision to lower premiums.
“It is our mission to partner with our customers to lower their rates,” Holly O’Dell, MSF’s President and Chief Executive Officer, explained. “We do this by helping them create a culture of safety at their businesses. This rate reduction is a testament to their diligence, which is paying off.”
O’Dell also noted that historically Montana has had high injury rates, but those rates have been trending downwards in recent years.