The Virginia State Corporation Commission is setting an October 28 hearing to consider adjustments in premiums charged for workers’ compensation insurance.
The National Council on Compensation Insurance has requested the changes. The Florida-based ratemaking group represents insurance companies licensed to write workers’ compensation insurance in Virginia. Almost all Virginia employers are required to carry the coverage.
Under the proposal, overall premiums for the federal and surface coal mine classifications would increase. Overall premiums for the industrial and underground coal mine classes in the voluntary and assigned risk markets would decrease.
The proposed changes would take effect April 1, 2009.
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