loss costs News

New Hampshire Workers’ Comp Rates Decrease for Eighth Year in a Row

New Hampshire employers will pay less for their workers’ compensation insurance next year because of an approved filing that lowers the loss costs insurers use to develop prices. The New Hampshire Insurance Department has approved a rate proposal filed by …

New Hampshire Workers’ Comp Rates May Decrease for Seventh Year in a Row

New Hampshire employers could pay less for their workers’ compensation insurance next year because of a filing that lowers the loss costs insurers use to develop prices. The National Council on Compensation Insurance (NCCI) filed a rate proposal with the …

Nearly 60% of Payments in California Comp in 2016 Were for Medical Services

The Workers’ Compensation Insurance Rating Bureau of California issued report containing estimated California workers’ compensation costs for 2016 based on insured employer experience. The report also reflects payments made by the California Insurance Guarantee Association in the statewide loss payments …

Kentucky Workers’ Comp Loss Costs to Decrease 5 % on Oct. 1

The Kentucky Department of Insurance has approved the annual workers’ compensation loss costs filing from the National Council on Compensation Insurance Inc. (NCCI) with a rate decrease of five percent on average. It is the eleventh consecutive overall decrease in …

Workers’ Comp Costs Could Rise for Missouri Businesses

Missouri businesses could face significantly higher costs for workers’ compensation insurance next year, due partly to a new law that seeks to shore up a financially troubled state fund for disabled workers. Workers’ compensation insurers in Missouri are likely to …

Oklahoma Sees Double Digit Decrease in Workers’ Comp Loss Costs

An annual filing most insurance carriers will use to develop rates for workers’ compensation insurance shows a dramatic decrease in loss costs, Oklahoma Insurance Commissioner John D. Doak announced. The overall loss cost decrease of 14.6 percent takes effect Jan. …

Maine Approves Decrease in WC Loss Costs; $3.5M in Savings Expected

Maine Insurance Superintendent Eric Cioppa announced last week that the state’s Bureau of Insurance has received, reviewed and approved the National Council on Compensation Insurance’s 2013 loss cost filing proposing a premium decrease of 1.8 percent; resulting in a cumulative …

U.S. Insurers Say Fraud Costs on the Rise: Survey

Forty-five percent of insurers estimated that insurance fraud costs represent 5-10 percent of their claims volume, while 32 percent said the ratio is as high as 20 percent. This is according to a survey of U.S. insurers showing the high …

Nevada Workers’ Comp Loss Costs to See 1% Increase

Many Nevada employers will see a small increase in the premiums they pay for workers’ compensation insurance in 2012. Nevada Insurance Commissioner Scott J. Kipper has approved a filing from the National Council on Compensation Insurance (NCCI) for an average …

Kentucky Workers’ Compensation Rates Continue to Drop

Kentucky regulators have approved the sixth straight reduction in workers’ compensation loss cost rates. Kentucky Insurance Commissioner Sharon Clark has approved a statewide average 7.5 percent decrease in loss costs rates. The new rates mean that the state’s loss cost …