How is Wyoming workers' comp premium calculated?

The core formula divides payroll by 100, multiplies by the class-code base rate, then multiplies by your experience factor. Premium equals (payroll / 100) times rate times factor. The rate is per 100 dollars of payroll by industry convention.

Is Wyoming a monopolistic state fund?

Yes. Wyoming is one of the few monopolistic states where employers must buy workers' compensation coverage from the state-run Wyoming Workers' Compensation Division. Private workers' comp insurance is not sold for the state-mandated coverage.

What is the experience-rate adjustment?

Wyoming applies an experience modification that compares an employer's actual claim losses to expected losses for their class. A factor below 1.00 means a discount for a good safety record, while a factor above 1.00 is a surcharge for higher-than-expected claims.

Where do class-code rates come from?

Each occupation is assigned a classification code with a base rate reflecting its injury risk. Clerical work carries a low rate while construction or logging carries a high one. The Wyoming Workers' Compensation Division publishes the rate per code.

Is this my exact premium?

No. This is a manual-premium estimate. Actual assessments include the state fund's specific rate tables, minimum premiums, and any surcharges or credits. Use the figure for budgeting and confirm with the Wyoming Workers' Compensation Division.

Wyoming Workers' Compensation Premium Calculator

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A Wyoming employer’s workers’ comp cost comes down to three numbers: the class-code rate, the payroll, and an experience adjustment. Wyoming is a monopolistic state fund, so coverage comes from the state Division — but the underlying premium math is the same standard formula.

How it works

Rates are quoted per $100 of payroll. The manual premium is multiplied by your experience-rate factor:

manual premium    = (annual payroll / 100) × class-code rate
estimated premium = manual premium × experience factor

An experience factor of 1.00 is the base rate; 0.85 is a 15% safety discount; 1.20 is a 20% surcharge for above-average claims.

Example

A $400,000 payroll at a $3.00 rate gives a manual premium of (400000 / 100) × 3.00 = $12,000. With a 0.90 experience factor the estimated premium is 12000 × 0.90 = $10,800.

Notes

This is a manual-premium estimate. Because Wyoming is a monopolistic state fund, coverage must come from the Wyoming Workers’ Compensation Division — private state-mandated policies are not sold. Real assessments add minimum premiums and specific rate-table figures, so confirm with the Division.