October Hearing Set on Virginia Workers’ Comp Premiums

August 2, 2010

Virginia regulators are planning to hold a hearing in October on proposed adjustments in premiums charged for workers’ compensation insurance.

The State Corporation Commission said Friday that it has set an Oct. 26 hearing in Richmond on the request from the National Council on Compensation Insurance Inc.

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.

The group has proposed changes in the overall premium level for the industrial, federal, surface coal mine and underground coal mine classifications. The adjustments would apply to both the voluntary market and assigned risk plan.

If approved, the adjustments would become effective April 1, 2011.

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