Sep 26, 2016

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 10.9 percent for the voluntary market. This includes an -11.8 percent change for experience and trend, a +0.7 percent change for benefits and a +0.3 percent change for loss-based expenses. Also filed is a proposed overall decrease in assigned risk rates of 10.9 percent, which results from no change in the loss cost multiplier.

The filing is proposed to be effective Jan. 1, 2017, for new and renewal voluntary and assigned risk policies, and is pending review by the Connecticut Insurance Department. Also, NCCI is hosting a Connecticut State Advisory Forum on Wednesday, Oct. 5, 2016, at the Marriott Hartford Downtown, 200 Columbus Blvd., Hartford, CT 06103. The meeting will be held from 9 a.m.-noon, with a continental breakfast served at 8:30 a.m.

The forum is designed to promote education and provide a greater understanding of both national and state workers’ compensation issues. To register or for more information, click here.