National Council on Compensation Insurance (NCCI) News

Virginia Approves 12% Loss Cost Decrease for Workers’ Compensation

Virginia has approved a 12.0% loss cost decrease in the workers’ compensation voluntary market along with rate decreases in the assigned risk market, effective April 1, 2025. The State Corporation Commission (SCC) approved the proposed voluntary loss costs, along with …

Florida OIR Approves 1% Average Workers’ Compensation Rate Decrease

Florida employers will soon see the smallest decrease in workers’ compensation rates in years – just a 1% reduction from current overall rates in the voluntary market. The Florida Office of Insurance Regulation announced Monday that the insurance commissioner had …

Allianz Exec Ryan to Succeed Donnell as NCCI President and CEO

The board of NCCI Holdings, Inc. elected Tracy Ryan as its new president and CEO, effective January 6, 2025. Bill Donnell, the company’s current president and CEO, is retiring in February 2025. Boca Raton, Florida-based NCCI said Ryan has more …

Connecticut Workers’ Compensation Costs to Drop Again in 2025

Connecticut workers’ compensation insurers are recommending an overall 6.1% reduction in loss costs in the voluntary market and a 6.2% overall reduction in the assigned risk market for next year. If the recommendation is approved, it would mark the eleventh …

West Virginia Governor Touts 20th-Straight Workers’ Comp Loss Cost Decrease

The National Council on Compensation Insurance is recommending a 9.1% decrease in workers’ compensation loss cost projections for the West Virginia voluntary market. If approved by regulators, it would mark the 20th straight year of rate decreases for the state, …

US Workers’ Comp Line Still Showing Strong Profits, Lower Claim Frequency

Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines. However, the workers’ compensation line remains the most profitable segment, with a combined …

NCCI: Wage Growth Likely to Continue Workers Comp Payroll Growth

Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …

NCCI President and CEO Donnell to Retire Early Next Year

The National Council on Compensation Insurance (NCCI) said President and Chief Executive Officer Bill Donnell plans to retire in February 2025 after about 10 years with the organization. “It’s been such a privilege to lead this organization and this amazing …

NCCI: Shifting Workplace, Costs Are Top Concerns for Workers’ Comp Execs

A new survey finds ratings data, changes in the workplace and workforce, medical inflation and economic uncertainty are top of mind concerns for workers’ compensation insurance executives. The National Council on Compensation Insurance (NCCI) released the results of its annual …

Are Florida Workers’ Comp Rates Getting Too Low? Roofers, Insurer Urge Freeze

Workers’ compensation rates have shrunk to such a low level in Florida, at least for some classifications, that they are causing problems and could be masking issues that will lead to higher premiums in coming years, Florida roofing contractors said …