The National Council on Compensation Insurance (NCCI) recently delivered a workers compensation loss cost filing to the New Hampshire Insurance Department.
Based upon its review of the most recently available data, NCCI has proposed on Aug. 3 an overall average workers compensation loss cost level change of -6.5 percent and assigned risk rate change of -4.2 percent to become effective January 1, 2014.
NCCI says primary drivers of the proposed loss cost level change are:
• Improved claims experience in the most recent policy period.
• Long-term decline in frequency of lost-time claims is contributing to decreasing trend in indemnity loss ratios.
• Medical loss ratios continue to climb. Medical costs make up 74 percent of the total benefit costs in the state.
The New Hampshire Insurance Department is scheduled a public rate hearing on Oct. 2, 2013. NCCI says it will hold the New Hampshire State Advisory Forum on Sept. 26, 2013 from 9:00 am to 12:00 pm at the Radisson Hotel in Manchester, N.H.
Topics Trends Profit Loss Workers' Compensation Pricing Trends New Hampshire
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