The Iowa Insurance Division reported that the National Council on Compensation Insurance has made a rate filing which affects the premium rates for workers’ compensation insurance.
The rate filing proposes an overall increase in rates of 2.3 percent. Included in this filing is an increase the minimum premium for 4 farm codes (0016, 0036, 0037, and 0083) from $300 to $350. The filing is introducing a new methodology in how to determine class rates. The filing has a proposed effective date of Jan. 1, 2010.
A workers’ compensation policyholder or an established organization with one or more workers’ compensation policyholders among its members may request a hearing before the Commissioner of Insurance regarding this rate filing.
Such a request must be filed by Sept. 8, 2009, and shall be made to the Commissioner of Insurance at the Insurance Division of the State of Iowa, 330 Maple, Des Moines, Iowa 50319.
Source: Iowa Division of Insurance
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