Montana workers’ compensation claims have decreased by more than 5 percent in the past year, state Insurance Commissioner Monica J. Lindeen announced.
The National Council on Compensation Insurance (NCCI) recently made a filing with Commissioner Lindeen’s office requesting an overall loss cost decrease of -5.6 percent, effective July 1, 2011. The NCCI is designated by Commissioner Lindeen through Montana law to analyze industry trends, prepare workers’ compensation insurance rate recommendations, determine the cost of proposed legislation, and provide services and tools to maintain a healthy workers’ compensation system. Private insurers in Montana, excluding the State Fund, adopt the loss cost and file the end rates with the Commissioner’s office.
“Montana typically has some of the highest worker’s compensation rates in the country and this is definitely refreshing news to report,” Lindeen said. “The actuaries in my office will continue to monitor and regulate these rates, watching for significant changes in trends to report.”
This filing does not reflect any provisions currently under consideration by the state Legislature. If significant legislation is enacted, NCCI will prepare a revised filing incorporating those changes, Lindeen said.
The state recently passed workers’ compensation reform legislation HB 334 to bring about 20 percent to 44 percent in workers’ comp cost savings in the first year the legislation is enacted.
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