Workers' comp rates lowest in the nation
North Dakota State Roundup
Published May 1, 2003 | May 2003 issue
When it comes to workers' compensation, North Dakota is pleased as punch to be at the bottom of the list. Workers' compensation premium rates have declined for eight straight years in the state, pushing rates to the lowest in the nation.
National premium rates ranged from North Dakota's low of $1.24 per $100 of payroll to a high of $5.23 per $100 of payroll in California for 2002, according to a survey by the Oregon Department of Consumer and Business Services. The survey is conducted every two years.
Premiums collected in the state peaked in fiscal year 1996 at $133 million and dropped to $93 million in fiscal year 2002. During that same period, claims by workers declined from 7.47 per 100 workers in 1996 to 6.6 per 100 in 2002.
North Dakota Workers' Compensation reports that the cumulative effect of premium reductions means that more than $130 million has gone back into the state's economy.