Missouri Announces 2027 Workers’ Comp Rates
The Missouri Department of Commerce and Insurance (DCI) has unveiled the workers’ compensation rates for 2027. The National Council on Compensation Insurance (NCCI) proposed a rate-neutral outcome, resulting in a 0% change to average rates for businesses across the state. This stability is largely attributed to a continued reduction in the frequency of claims.
While the overall average remains steady, specific industry groups will see varied adjustments in loss costs. Contracting and Office & Clerical sectors will experience decreases of 2.0% and 1.2%, respectively, alongside a 0.2% decline for Goods & Services. Conversely, Manufacturing and Miscellaneous categories are slated for increases of 1.2% and 1.3%. The full filing and the department’s actuarial review are accessible via the DCI website.
For industry professionals, this rate-neutral environment suggests a period of predictability in Missouri's workers' compensation market, though underwriters and employers should monitor how sector-specific adjustments impact their individual risk portfolios.
Why it matters
This announcement provides critical pricing stability for Missouri employers, signaling that current claims trends are successfully offsetting potential cost increases.
FAQ
What is the overall change to Missouri workers' compensation rates for 2027?
The proposed change is 0%, maintaining a rate-neutral environment for businesses.
Which industries will see rate decreases?
Contracting (-2.0%), Office & Clerical (-1.2%), and Goods & Services (-0.2%) will see decreases.
Why are rates remaining stable?
The stability is driven primarily by a sustained decline in claims frequency across Missouri.
Source: Insurance Journal. See the original source for full details.
Scan with your phone
Scan with your phone