Mo. workers' compensation insurance rates may increase

Sep 25, 2013

Credit KBIA/file photo

Missouri businesses could face significantly higher costs for workers' compensation insurance next year.

The National Council on Compensation Insurance projects Missouri insurers will see an 11.6 percent increase in their claim costs in 2014.

This increase is driven partly by a new Missouri law that seeks to shore up the Second Injury Fund, which is for disabled workers who suffer additional on-the-job injuries. The law shifts some types of claims out of that fund and into traditional workers' compensation insurance.

Businesses also could face a higher surcharge — on top of their regular workers' compensation premiums — to help replenish the Second Injury Fund.