Connecticut’s insurance regulator is weighing whether to approve a workers’ compensation industry proposal for an overall average decrease of 4.9% to the current voluntary loss costs and an average decrease of 5.8% to the current assigned risk rate level.
If approved by the Connecticut Insurance Department, the new loss costs and assigned risk rates would take effect on January 1, 2027.
The changes have been proposed by the National Council on Compensation Insurance (NCCI) on behalf of insurers.
Insurance Commissioner Joshua Hershman today opened a 30 day period of public comment on the NCCI filing. The department has summarized the filing and provided a link to the filing including supporting documentation. Hershman said the department does not intend to hold a public hearing concerning this filing; however, interested parties may provide comments via email to cid.pc@ct.gov.
This would mark the thirteenth straight year of a decrease in workers’ compensation costs in the state. For 2026, the NCCI proposed and the department approved an average 3.8% decrease in loss costs, while the assigned risk rate was cut an average 0.4%. For 2025, there was an overall 6.1% reduction in loss costs in the voluntary market and a 6.2% overall reduction in the assigned risk market, as NCCI proposed.
Loss costs reflect actual or expected claim costs and related legal and settlement expenses. They serve as the baseline to which each insurance company adds its own costs for overhead, operations and profit to determine the final premium.
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