DWD Reports Wisconsin Companies To Pay Less In Worker's Compensation Insurance Rates

Tuesday, August 1st, 2023 -- 8:24 AM

The Wisconsin Department of Workforce Development reports that Wisconsin companies will pay 8.4% less in worker's compensation insurance rates starting Oct. 1, 2023, benefiting businesses around the state.   The latest reduction in premiums is expected to save Wisconsin employers some $148 million on policies starting on or after October 1, 2023.

The lower rates reflect Wisconsin employers' attention to workplace safety for the benefit of workers and employers alike. Moreover, it's a way for Wisconsin companies to stand out as they seek to attract and retain staff during a time of near-record low unemployment. The 2023 rate decrease, approved by the Wisconsin Office of the Commissioner of Insurance, marks the eighth year in a row worker's compensation insurance premiums have declined in Wisconsin.

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