CHARLESTON, W.Va. — West Virginia has one of the lowest workers’ compensation insurance rates in the country, according to rankings released by the Oregon Department of Consumer and Business Services.
The report, touted by Gov. Jim Justice in a press release on Monday, states West Virginia employers pay the 48th highest workers’ compensation premium rates in the United States, 41 percent below the study median.
West Virginia’s median rate is $1.01 per $100 of payroll, compared to the national median rate of $1.70 per $100.
“We used to rank among the states with the highest rates for workers’ compensation insurance. Now the rates in our state rank as the fourth lowest in the nation. We can be proud of our progress,” Justice said in a statement.
The study placed West Virginia at 48th in last year’s ratings. All states and Washington, D.C., are considered.