Maryland is an NCCI loss-cost state: NCCI files advisory loss costs with the Maryland Insurance Administration, and carriers apply their own multipliers to set rates. The MIA’s annual workers’ compensation report tracks the market — and the current numbers are moving hard in employers’ favor.

The current rate environment in Maryland

The MIA approved a 12.3% decrease in voluntary-market loss costs effective January 1, 2026 — among the largest recent cuts in the mid-Atlantic. Because carriers pass decreases through unevenly, this is precisely the year a Maryland business should be comparison-shopped rather than auto-renewed.

Where to find official Maryland rate data

Maryland does not publish a free per-class rate table — NCCI’s loss cost pages are subscription products, and the Maryland Insurance Administration’s annual report shows aggregate changes by industry group. What you can verify directly is your own policy: the class codes on your dec page, your experience mod worksheet, and whether your renewal priced on the post-January-2026 loss costs. We review all three on every Maryland quote.

What determines your Maryland premium

• Class codes — every job type carries its own rate; misclassification is the most common cause of overpayment
• Payroll — premium is calculated per $100 of payroll, by class
• Experience mod — your claims history versus similar businesses scales the whole premium up or down
• Carrier pricing — carriers file multipliers over NCCI loss costs; after a 12.3% cut, the spread between fast and slow repricers is unusually wide
• Credits and programs — safety programs, dividend plans, and pay-as-you-go options move the net cost

How to get the best rate in Maryland

The rate tables are only the starting point: the carrier you land with, the accuracy of your class codes, and how your payroll is reported decide what you actually pay. We quote Maryland businesses across a dozen A-rated markets and show you the comparison — including pay-as-you-go billing that matches premium to actual payroll. See our Maryland workers’ comp guide and Maryland forms & resources for the rest of the picture.

Maryland rate FAQs

Did Maryland workers’ comp rates go down for 2026?

Yes — the Maryland Insurance Administration approved a 12.3% decrease in voluntary-market loss costs effective January 1, 2026, one of the region’s largest recent cuts.

Who sets workers’ comp rates in Maryland?

NCCI files advisory loss costs with the Maryland Insurance Administration; each carrier applies its own filed multiplier. Final pricing varies by carrier on the same class code.

How do I make sure I benefit from the Maryland rate decrease?

Check that your renewal is rated on the loss costs effective 1/1/2026, verify your class codes, and compare carriers — decreases reach different carriers’ pricing at different speeds, and re-shopping is how the cut reaches your bill.