Rhode Island Attorney General Peter F. Kilmartin said he opposed a 3.9 percent workers’ comp rate hike being sought by the National Council on Compensation Insurance (NCCI) for the state.
NCCI’s calculations call for a 3.9 percent increase for advisory loss costs for workers’ compensation insurance. But Kilmartin says that an analysis and an independent actuarial study, the rate hike should be rejected. Kilmartin’s office submitted an alternative calculation that calls for an overall increase of 0.6 percent.
He has filed his opposition with the state’s Department of Business Regulation, which oversees insurance in Rhode Island.
“When businesses are struggling to stay open, special attention must be paid to any additional costs they are asked to pay, all of which end up being passed on to consumers in the form of higher costs for all goods and services,” Kilmartin said.
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