Workers' Compensation Rates Decrease For 10th Consecutive Year

Phoenix, AZ –The Arizona Department of Insurance and Financial Institutions (DIFI) has reviewed the annual National Council on Compensation Insurance (NCCI) rate filing reflecting a 9.1% reduction in Workers' Compensation rates. The decrease, which will apply to all policies effective on or after January 1, 2025, continues 11 separate rate decreases for Arizona employers in the past 10 consecutive years.

Recent data show there were approximately 150,000 Workers' Compensation policies written in Arizona by over 330 different insurers. These policies generated approximately $890,000,000 in premiums. Arizona's lost-time claims relative to premium declined in years 2021-2023, as did both medical average cost per lost-time claim and indemnity average cost per lost-time claim.

Read the entire press release.  Arizona Department of Insurance and Financial Institutions, October 25, 2024