workers’ compensation loss costs News

Oklahoma Workers’ Comp Loss Costs Fall 10.2%

The annual filing most insurance carriers will use to develop rates for workers’ compensation insurance shows a decrease for the fourth year in a row in Oklahoma, according to the state insurance department. The Oklahoma Insurance Department reported that the …

South Carolina Workers’ Comp Loss Costs Going Up, New Filing Requirements Take Effect

New requirements regarding the implementation of changes in workers’ compensation loss costs have been passed by the South Carolina Legislature, and the insurance department is reminding insurers to ensure they follow the new filing rules as loss cost increases will …

Pennsylvania OKs Average Workers’ Comp Loss Cost Decrease of 0.9%

The Pennsylvania Compensation Rating Bureau (PCRB) said the Pennsylvania Insurance Department has approved PCRB’s filing which calls for an overall average workers’ compensation loss cost decrease of 0.90 percent from existing loss costs. Pennsylvania Insurance Commissioner Teresa Miller approved PCRB’s …

Pennsylvania Compensation Rating Bureau Seeks 0.9% Loss Cost Decrease

The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss cost decrease of 0.90 percent. PCRB’s …

PCRB Proposes 5.99% Average Workers’ Comp Loss Cost Decrease in Penn.

The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2015. PCRB said in its Circular No. 1636 on Dec. 15 that its filing, …

Missouri Insurance Director: Workers’ Comp Insurance Costs Likely to Fall

Missouri businesses could see a decline in their workers’ compensation insurance premiums next year. The state insurance department says a new report by the National Council on Compensation Insurance indicates that insurers are likely to see a 3.7 percent drop …

Workers’ Comp Loss Costs Declining Again in Oklahoma

For the second straight year, workers’ compensation loss costs used by insurers to determine rates for employers will show an overall decrease in Oklahoma. The National Council on Compensation Insurance (NCCI) has filed an overall loss cost level decrease of …

Employment Growth Leads to Workers’ Comp Benefit, Cost Uptick

Workers’ compensation benefits rose by 1.3 percent to $61.9 billion in 2012, while employer costs rose by 6.9 percent to $83.2 billion, according to a report released today by the National Academy of Social Insurance (the Academy). This growth in …

Insurers File for 9.1% West Virginia Workers’ Compensation Loss Cost Decrease

The National Council on Compensation Insurance (NCCI) has filed a proposed reduction in workers’ compensation loss cost rates in West Virginia – the tenth reduction in 10 years. NCCI, West Virginia’s rating agent, has proposed an overall 9.1 percent loss …

Delaware Approves 14% Hike in Workers’ Comp Voluntary Market Loss Costs

Delaware Insurance Commissioner Karen Weldin Stewart announced today that she has approved the re-submission of the Delaware Compensation Rating Bureau (DCRB) workers’ compensation rate filing regarding the residual market rate and the voluntary market loss cost. The commissioner and Ratepayer …