Department of Workforce Development: Office of the commissioner of insurance approves program providing worker's compensation premium credit for hiring apprentices
MADISON – Wisconsin Commissioner of Insurance Ted Nickel and Department of Workforce Development (DWD) Secretary Ray Allen announced today the approval of the Wisconsin Apprenticeship Credit Program as proposed by the Wisconsin Compensation Rating Bureau (WCRB). The program will benefit employers who hire and currently employ an apprentice through the state's Registered Apprenticeship program.
“In Wisconsin, we are seeking innovative ways to grow talent and meet employers' need for skilled workers, and this new program will further enhance Wisconsin's century-old apprenticeship program as a critical workforce development tool," Commissioner Nickel said. "I would like to thank the Wisconsin Compensation Rating Bureau for their innovative efforts in creating this program."
The new program, approved by the Office of the Commissioner of Insurance on September 28, will offer a 2% premium credit up to $2,500 on an employer's Worker’s Compensation (WC) premium if they employ an apprentice through Wisconsin’s Bureau of Apprenticeship Standards (BAS). The credit would be optional for policies written in the voluntary market and mandatory for companies in the Insurance Pool effective October 1, 2018. Companies interested in the credit should contact their individual insurance carrier for details.
“This is another example of Wisconsin businesses working with stakeholders to advance the state's economy and encourage more employers use Registered Apprenticeship to fill their skilled talent needs," Secretary Allen said. "After more than 100 years of innovation, Wisconsin Apprenticeship remains a premier program to equip workers with the skills needed for jobs today and in the years to come."
The WCRB is the organization created by Wisconsin State Statute responsible for setting WC rates for all businesses throughout the state.
Wisconsin DWD's Registered Apprenticeship program was created in 1911 and provides a value-added training model for as many as 11,000 apprentices and 2,500 employers in over 200 occupations across the state annually.
Questions about the Wisconsin Apprenticeship Credit Program can be directed to the Wisconsin Compensation Ratings Bureau at 262-796-4540 or online at https://www.wcrb.org/wcrb/wcrbhome.htm.