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Montana State Fund Holds the Line on Rates for Policy Year 2010
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- Created on Wednesday, 06 May 2009 07:52
The Montana State Fund (MSF) Board of Directors announced that MSF will have a zero percent change in average rates for the coming policy year.
"This is positive news for Montana’s business owners," said Joe Dwyer, MSF Board Chair. "In these days of economic uncertainty and double-digit increases in other operational expenses, this is one line item our policyholders can feel good about."
In addition, said Dwyer, the rate announcement also reflects the partnership between MSF and our policyholders to concentrate on safe workplaces and returning injured employees back to work in a timelier manner. "This investment in workplace safety has helped control rising insurance costs."
Laurence Hubbard, President/CEO of MSF added that the announcement is a reflection of Montana State Fund’s commitment to improve processes and service and focus on excellent claim management, customer service, and safety programs. "We are pleased to be able to hold the line on rates even in the face of increasing medical costs and the rise in more severe injuries," he said.
Hubbard said rates are determined by looking at the types of jobs and business classifications of policyholders, as well as individual loss history. Overall average rates for customers may vary up or down by as much as 34%, depending on industry and loss experience. New rates take effect July 1, 2009.
