Connecticut Insurance Commissioner Susan Cogswell has called a public hearing on proposed small decreases in workers compensation loss costs that insurers use insurers to determine rates.
The hearing, scheduled for Nov. 9 in Hartford, will review a filing by the industry’s National Council on Compensation Insurance, which has recommended an average decrease of -0.9 percent for pure premium loss costs and an average decrease of -0.1 percent in assigned risk rates. NCCI has proposed a Jan. 1, 2007 effective date.
The overall change in the filing are distributed by major industry group as follows:
Industry Group
Pure Premium Loss Cost Assigned Risk Plan Rate
Manufacturing +1.2 +2.0
Contracting -1.5 -0.7
Office & Clerical +1.6 +2.4
Goods & Services -2.4 -1.6
Miscellaneous -1.4 -0.6
Overall ‘ -0.9% -0.1%
Was this article valuable?
Here are more articles you may enjoy.
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
‘Structural Shift’ Occurring in California Surplus Lines 
Portugal Deadly Floods Force Evacuations, Collapse Main Highway 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
