SOME COLO. WORKERS’ COMP LOSS COSTS TO DECLINE

Workers’ compensation costs for some Colorado employers may decrease on average about 10.2 percent later this year. Insurance Commissioner William J. Kirven III announced that the National Council on Compensation Insurance (NCCI) has filed an average decrease of 10.2 percent in workers’ comp insurance loss costs for Colorado effective Dec. 1, 2002. A public hearing to discuss this proposal was slated for Sept. 3, at the Colorado Division of Insurance. The Colorado NCCI loss cost filing includes data from 150 insurance companies that write workers’ comp insurance in Colorado and includes loss experience from the companies for a five-year period. This is the second year in a row that Colorado workers’ comp loss costs have declined. On Jan. 1, 2002, the loss costs decreased an average of 7.4 percent.

Topics Trends Profit Loss Workers' Compensation