The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss cost decrease of 0.90 percent.
PCRB’s April 1, 2016 loss cost filing (No. C-366) was submitted to the Pennsylvania Insurance Department on Dec. 8. The notice of the filing will be published in the Dec. 19 Pennsylvania Bulletin along with direction to access the filing on PCRB’s website and the establishment of a 30 day public comment period.
“The filing has been assigned to one of the Insurance Department’s actuaries who will review the proposal to ensure that the proposed loss costs and other changes are not excessive, inadequate or unfairly discriminatory or otherwise non-compliant with Pennsylvania law,” Pennsylvania Insurance Department spokesman Ronald Ruman said.
“We will consider the public comments we receive, the PCRB’s responses to those public comments and our own independent analysis of the PCRB’s filing as we reach our decision as to whether or not to approve the filing. The statute provides 180 days maximum to review the filing,” the spokesman said.
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