Mississippi Workers' Compensation Rates

Mississippi workers' compensation rates decreasing for 2024.

Workers comp rates in Mississippi are lower than the national average, but hey have risen in recent years. As of last year, MS rates were 23% lower than the rest of the country. Rates are likely to decrease as insurance companies compete for premium. Workers'comp coverage has been the most profitable line of buiness for most insurance carriers over the past decade.

Mississippi is an NCCI state like most other states. NCCI oversees employers' experience modification factors and collects all data for the state including claims, class codes, premiums, and payroll. They analyze this data and make annual recommendations to carriers and to the MS Department of Insurance. Every Insurance company is required to file their rates with the state for approval each year.

Workers' compensation rates will vary for the same class codes in Mississippi because insurance companies can apply policy credits and debits up to 25% to adjust their filed rates. More discounts may also be added to a policy depending on the size of payroll and overall claims experience.

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