Representatives of the Colorado Insurance Division are reviewing a proposal that could cut workers’ compensation insurance premiums for some employers.
The National Council on Compensation Insurance, a rating and advisory organization, has filed for an average decrease of 4.5 percent in workers’ compensation insurance loss costs for Colorado beginning Jan. 1.
The state insurance division has set a public hearing on the proposal Sept. 21 at its office.
If it is approved, some employers would see a decrease in workers’ compensation insurance premiums, Insurance Commissioner Doug Dean said Wednesday. The impact to the premium as a result of the filing would be a 3.4 percent decrease.
The NCCI collects annual data on workers’ compensation claims for the insurance industry.
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