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Carroll County Worker’s Compensation Rates Increase

Terry Axman of Mid Iowa Insurance recently reviewed the worker’s compensation coverage for Carroll County employees. He informed county leaders that the renewal was going to increase rates for the county by $21,442. Axman said there were three major factors influencing that change.

Base rates are set by the National Council on Compensation Insurance, and this year some employee classifications went up, some went down, but the total average trended up. The third factor, Axman explained, is based on their claim experience.

Axman said in the middle of the three-year cycle, 2013/14, there was a claim at over $100,000 and lost time that drove up the experience/loss factor. That claim will impact their rates for the next year, then drop off. There are no concerns at all with the loss factor, and Axman said there really aren’t any recommendations he can make that will have a positive impact on the rate increase. Next year, the situation will be reviewed again to see if there are any changes the county can make to reduce the overall rate costs.

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