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[The following is a paid advertisement.]
In 2011, at the strong request of business and insurance companies the Workers’ Compensation “Reform” package was signed into law, aimed at lowering costs for employers in Illinois. These changes have had a negative effect on workers in Illinois and their ability to receive fair and reasonable compensation when they are injured on the job and have not resulted in savings for employers in Illinois.
According to a study done by the Oregon Department of Consumer and Business Services, Illinois had a 24 percent reduction in workers’ compensation rates between 2012 and 2014 – the steepest drop in the nation. This reduction should have resulted in a $1 billion savings in insurance premiums for Illinois employers. Tellingly, insurance companies have refused to reduce their premiums in response to their own industry’s recommendations.
Cries from business interests for more so-called “reforms” will likely take away more rights from injured workers and increase the insurance industry’s profits. Any further changes in laws should instead look to promote insurance premium transparency and oversight – not further sacrifices by the injured worker.
For more information about workers’ compensation in Illinois, click here.
posted by Advertising Department
Thursday, Apr 16, 15 @ 12:28 pm
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