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Kentucky Companies Will See Big Savings From Reduced Workers' Compensation Assessment Rates

By Shelly Baskin

Murray, KY – Kentucky employers will save about 3 million dollars on their annual assessment for Workers' Compensation premiums next year. Department of Worker's Claims Commissioner Dwight Lovan says an almost 3 and a half percent rate reduction on assessments will bring significant savings for Kentucky's largest employers. Lovan says the lower rate was prompted by a decrease in funding projections for the state's Workers' Comp programs. The reduction is the first since 2006 and brings the rate to its lowest point since the commission was founded.