California ranks highest for workers’ compensation costs

Not that it is any surprise, but in a newly released report California has been ranked as the most expensive state for workers' compensation cost.Going back historically California was ranked the third most expensive state in 2012 and the fifth most expensive in 2010.  This increasing trend has had a profound impact on businesses with $3.48 going toward workers' comp for every $100 of payroll.However, it has not always been this bad, since 2000 California's lowest ranking was in 2008 when it was number 13 in comp costs, and most of that was attributed to the fact that legislative reforms helped reduce employer premiums by 66%.While California was the most expensive from a workers' comp standpoint the other states next in line are Connecticut ($2.87 per $100 in payroll), New Jersey ($2.82 per $100 in payroll), and New York ($2.75 per $100 in payroll).  North Dakota is currently the least expensive state from a comp standpoint with 88 cents of every $100 in payroll going toward workers' comp.

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California ranks highest for workers’ compensation costs.

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The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better. All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

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