Virginia to Consider Increase for Some Workers’ Comp Rates

The Virginia State Corporation Commission will consider a request to raise workers’ compensation premiums at a meeting in October.

The National Council on Compensation Insurance Inc. (NCCI), a rate service organization that represents insurers, requested the meeting.

NCCI is proposing an increase in the overall premium level for the industrial, federal, surface coal mine and underground coal mine classifications in both the voluntary market and assigned risk plan.

The largest increases would be in surface coal mining, where rates would rise 17.6 percent for the voluntary market and 18.1 percent for assigned risks.

The proposed changes would become effective in April.

Topics Trends Workers' Compensation Pricing Trends Virginia