R.I. Approves 2.5% Decrease in Workers Comp Loss Costs

Elizabeth Kelleher Dwyer, director of the R.I. Department of Business Regulation, announced that the Insurance Division has approved a 2.5% average reduction in overall workers compensation loss costs. 

The rate proposal was filed by the National Council on Compensation Insurance. It marks the 11^th consecutive annual decrease in loss costs for the state, resulting in a net average decrease of 75.8% since 2015.

"This latest average rate reduction signals a healthy insurance market in Rhode Island," said Dwyer. "It is partly due to the efforts of our business owners for their continued focus on workplace safety, which is reducing the number of workers injured on the job."

Dwyer called the reduction a “positive sign” for R.I.’s economic environment, noting that more than 200 carriers write workers comp in the state. 

The reduction will take effect on Aug. 1, 2026.