Montana State Fund lowers workers' comp insurance rates

The state’s largest workers’ compensation insurance carrier, Montana State Fund, is lowering rates by an average of 8 percent, according to a media release.

Montana has historically had higher rates of workplace accidents than many other states, though the number is decreasing. In the 2010 fiscal year, there were 6.6 workers’ compensation files claimed per 100 full-time employees, and in 2016 that dropped to 5.7, according to the Workers’ Compensation Annual Report published by the Montana Department of Labor and Industry.

Montana State Fund Board Chairman Lance Zanto credited a renewed focus on workplace safety across the state with making the rate lowering possible.

The Montana State Fund currently insures around 25,000 businesses in Montana, according to the statement.

The company said it hasn’t raised rates on average for the past 12 years, and they have declined by 52 percent since 2006.

Reporter Peregrine Frissell can be reached at (406) 758-4438 or pfrissell@dailyinterlake.com.