Sep 20, 2018

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 16.8 percent for the voluntary market. This includes a -10.5 percent change for experience, a -8.6 percent change for trend, a +1.5 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 19.8 percent, which includes a -3.6 percent change in loss-cost multiplier.

The filing is proposed to be effective Tuesday, Jan. 1, 2019, for new and renewal voluntary and assigned risk policies, and is pending review by the Connecticut Insurance Department. Commissioner Katharine L. Wade announced a 30-day period of public comment on the filing.