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Kansas Agency Approve Cut in Workers' Compensation Insurance Rates.(Originated from The Wichita Eagle, Kan.)
May 31--The Kansas Insurance Department has approved an 11.5 percent reduction in rates for workers' compensation insurance the largest decrease in several decades.
The reduction, effective Saturday, will trim $39.2 million from the more than $400 million that Kansas employers paid for workers' compensation insurance last year.
The rate reduction follows a 7.5 percent, or $25.5 million, decrease last year.
Workers' compensation insurance covers job-related injuries or diseases. Rates are based on a percentage of the employer's payroll and vary based on the employee's occupation.
Kansas has more than 600 categories under its system.
Under the …
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