Workers’ compensation insurance premiums are likely to decline for most TN businesses in 2022

The Tennessee Department of Commerce and Insurance (TDCI) announces that workers’ compensation insurance premiums are likely to decline for most Tennessee businesses in 2022 for the ninth consecutive year. Since Tennessee’s workers’ compensation system reforms began in 2014, loss cost reductions of over 59% have been approved, representing substantial savings for Tennessee employers. The reduced loss costs are also impacted by Tennessee employers seeing fewer significant workplace injuries.  TDCI Commissioner Carter Lawrence approved a 5.6% overall loss cost decrease beginning March 1, 2022 on new and renewal policies.