Tennessee Reforms Cut Workers Comp Claims, Costs

Workers’ compensation rates will drop again next year for most Tennessee businesses as safer work sites and non-judicial settlements of workers’ comp claims continue to cut the costs of the insurance in Tennessee.The National Council on Compensation Insurance (NCCI) said Tuesday it is seeking a loss cost reduction of 12.6 percent for workers’ compensation that will have the impact of bringing down insurance rates, effective March 1, 2018. The new filing represents the seventh consecutive reduction and reflects a continuing trend of reduced workers’ compensation insurance premium prices since the Tennessee General Assembly changed the state’s workers ’comp rules and moved to an administrative, rather than a judicial, process of paying claims for workers who are injured on the job.