Sep 29, 2014

NCCI files WC loss-costs and rates decrease

The National Council on Compensation Insurance recently submitted a workers compensation loss-cost filing that proposes an overall pure premium level decrease of 0.6 percent for the voluntary market. This includes a -0.4-percent change for experience and trend, a -0.2-percent change for benefits and no change for loss-based expenses. Also filed is a proposed overall decrease in assigned risk rates of 0.5 percent, which includes a +0.1-percent change in loss-cost multiplier. The filing is proposed to be effective Jan. 1, 2015, for new and renewal voluntary and assigned risk policies, and is pending review by the Connecticut Insurance Department.