West Virginia workers comp rates to rise less than 1% starting July 1
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West Virginia employers will see an average 0.67% increase in workers compensation rates beginning July 1, the West Virginia Offices of the Insurance Commissioner said.
The rate increase is a result of a $5.07 increase to West Virginia's average weekly wage for fiscal year 2015, according to a recent notice from the insurance office.
The maximum weekly benefit for temporary total disability, permanent total disability and fatal injuries will increase to $759.88 from $754.81, while the minimum weekly benefit will remain at $193.33 for the sixth fiscal year in a row, the notice said.
According to the notice, the 0.67% increase marks the smallest percent increase to West Virginia workers comp rates since a 0.66% rate increase in fiscal year 1995.
