HELENA, Mont. (AP) — A top Montana insurance official has approved a double-digit reduction in the state's workers' compensation costs.
The action is intended to decrease the amount insurers pay for claims, which will lead to overall cost reductions for employers, said Monica Lindeen, the state's insurance commissioner.
"Cutting loss costs by 22.4 percent will lower premiums and could make the difference for small businesses looking to hire new workers and expand," she said in a statement Tuesday.
The rate decrease is the product of the Legislature's bipartisan compromise on the issue brokered last month, Lindeen said.
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