Workers’ comp insurance premiums have risen 50-60 percent in California; weak stock market, medical inflation and terrorism equal higher premiums
The cost of workers’ compensation insurance is rising significantly all over the country, adding another heavy burden onto businesses. The system covers 127 million workers but is regulated state by state, with no federal oversight.
According to the National Council on Compensation Insurance, a weak investment environment, medical inflation and the need to fund against potential terrorism events are what is causing this increase in workers’ comp premiums.