Missouri Experiencing Continued Declining Workers Comp Rates in 2019

2019 Marks the 5th consecutive year of declining workers compensation rates in the state of Missouri

This past December, the Missouri Department of Insurance recommended a 3.5 percent decrease for workers compensation insurance loss costs in 2019. This is a modest decline, but it also marks the fifth year in a row of declines for workers comp rates in the state of Missouri.

Spirit of Saint Louis, Gateway Arch, located on the banks of the Mississippi River in Missouri.

Missouri is an NCCI state. This means the workers compensation system partners with the National Council on Compensation Insurance for recommended pure premium rate recommendations. NCCI is the leader at gathering data, analyzing industry trends, and providing objective insurance rate and loss cost recommendations. States that partner with NCCI predominantly enjoy lower rates on workers compensation premium.

Missouri State Flag

Why are rates declining?

Missouri Workers Compensation Rates 2019 are declining because of positive lost-time claim frequencies combined with stable average claim costs. This means the insurance carriers have processed less frequent claims and the average claim cost has remained stable. Because there are less claims to cover and the cost of those claims has remained relatively stable, insurance carriers operating in Missouri have experienced less cost to operate in the state. These positive signs allow the industry to pass some of those savings on to businesses within the state in the form of lower workers compensation insurance rates in 2019.


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