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Tennessee Department of Commerce and Insurance Reports Decrease in Workers Compensation

todayJanuary 23, 2025 77

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For the 12th year in a row, the Tennessee Department of Commerce and Insurance (TDCI) reports that most Tennessee businesses would see a decrease in workers’ compensation insurance costs in 2025. The order authorizing a 3.6% total loss cost reduction for the voluntary market starting March 1st, 2025, on new and renewal policies was signed by TDCI Commissioner Carter Lawrence on December 27th, 2024. This rate reduction enables carriers to create insurance premiums for the upcoming year by combining firm experience and expenses with loss cost submissions from the National Council on Compensation Insurance (NCCI). Employers in Tennessee have benefited greatly from these loss cost reductions since the state’s workers’ compensation system reforms started in 2014.

Written by: Hope Calahan

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