The Pennsylvania Compensation Rating Bureau (PCRB) has proposed a 10.22 percent average reduction in workers’ compensation policy rates for 2008, according to a Pittsburgh Business Times Article. The recommendation will go to the Pennsylvania Insurance Department for approval.
On January 19, 2007 the PCRB recommended a 2.95 percent average increase.
In 2006, the PCRB recommended an average 8.5 percent reduction, which was reported to be the biggest decrease sought since 1997.
In 2005, the PCRB recommended a 2.89 percent average reduction, which was predicted to save employers $32.5 million.