Worker comp move puts rate fall nearer
Arkansas businesses could see rate decreases in workers' compensation insurance beginning in July.
The Arkansas Insurance Department announced Thursday approval of an average workers compensation voluntary market decrease of 10.8% and a drop of 11% for the assigned-risk market.
Decreases reflect improvements in workplace safety in the state, Insurance Commissioner Alan McClain said. "As Arkansas businesses and workers face the challenges brought on by the covid-19 pandemic, it's encouraging to see that workplaces continue to prioritize the safety of our valuable workforce, resulting in lower workers' compensation rates," McClain said.
The Arkansas department accepted recommendations from the National Council on Compensation Insurance (NCCI), which analyzes and recommends rate adjustments in more than 40 states. NCCI based their recommendations on premium and loss experience for policy years 2017 through 2019.
-- Andrew Moreau
Grant aims for better state internet access
Ritter Communications, one of the largest privately-held telecommunications providers in the South, was awarded $44 million in grant funds by the Arkansas Legislative Council to finance projects that improve internet access in the state.
The eight state-funded grants are targeted for fiber improvements in Cross, Jefferson, Francis and Pope counties.
This is one of several telecommunications providers that received state grants from the Arkansas Rural Connect program, established in 2019 and designed to fund projects that expand the broadband footprint in rural communities.
Ritter Communications, based in Jonesboro, has received $67 million from this program to date. About $12.8 million is going toward improvements in Augusta, Brinkley and Stuttgart.
Other companies, including Aristotle Unified Communications and Windstream Holdings, have received tens of millions in grant funds from the Arkansas Rural Connect program in recent years.
The federal government has estimated more than a third of all people in rural communities have little to no access to the internet.
-- Nathan Owens
4.40 gain lifts index to closing of 765.26
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 765.26, up 4.40.
"Rising U.S. CPI data for February combined with stalled Ukrainian-Russian negotiations dampened investor sentiment as stocks only partially recovered from an early drop to close lower, led by underperformance in the information technology and financials sectors," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.