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California's workers' compensation insurance premiums rank as the third highest in the nation, according to a study by the Oregon Department of Consumer & Business Services.
The Golden State trails only isolated Alaska -- you can see Russia from there -- and Connecticut, according to the report, which was noted Friday in Insurance Journal, an online trade publication.
Alaskan businesses pay the highest rate, $3.01 per $100 of payroll, the study reported, compared to $2.99 in Connecticut and $2.92 in California.
The three most expensive states clocked in at 160 percent, 159 percent and (in California's case) 155 percent of the national median.
Also occupants of the 10 most expensive states were Illinois ($2.83 per $100 in payroll), New York (right behind at $2.82), Oklahoma ($2.77), New Jersey ($2.74), Montana ($2.50), New Hampshire ($2.40) and Maine ($2.24).
The Insurance Journal didn't include further information or explanation, but the data clearly show that California businesses are near the top end of spectrum when it comes to forking over workers' comp premiums.
In 2010, last time this survey was done, California ranked 5th, so it's moved up two notches in the last two years.
(Source)
Posted Friday, October 19 2012 5:29 PM
Tags : insurance, workers compensation, California, Los Angeles, workers comp insurance
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