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:
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%
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