National Council on Compensation Insurance (NCCI) News

Workers’ Compensation Reserve Redundancy Reaches $14 Billion, Reports NCCI

Workers’ compensation insurers continue to stow away more money than necessary in reserves, even as reported loss ratios continue to climb, according to a report released by the National Council on Compensation Insurance. A.M. Best also released a report concluding …

Workers’ Comp Pays More Than Group Health to Treat Similar Injuries: NCCI Study

Workers’ compensation pays more than group health to treat comparable injuries, according to a research brief issued by the National Council on Compensation Insurance. Although the workers’ compensation benefit delivery system is specifically geared to the needs of employers and …

Florida Workers’ Comp Rates Set to Decrease, Again

Florida workers’ compensation rates are set to decline again as the National Council on Compensation Insurance (NCCI) has proposed a statewide rate decrease of 4.9% in the voluntary market. The rates would take effect Jan. 1, 2022 if approved by …

New Hampshire Experiences Continued Stability in Workers’ Comp Market

The New Hampshire Insurance Department (NHID) approved a rate proposal filed by the National Council on Compensation Insurance (NCCI) that will reduce voluntary loss costs by 8% on average. “Over the past several years, the state has worked hard, in …

Workers’ Compensation Numbers Indicate Strong Performance During 2020 Pandemic

Because of job losses and shrinking payrolls during the pandemic recession, the workers’ compensation industry’s net written premium dropped 10% to $42 billion in 2020. However, private insurers posted a profitable calendar year combined ratio of 87, the industry’s fourth …

It Could Have Been Worse. An Update on COVID-19 Impact on Workers’ Compensation.

While it obviously presented challenges, 2020 is looking like it may not have been such a bad year for workers’ compensation insurers and insureds after all. Insurers took in less premium but paid fewer claims. They managed to one of …

Florida Approves 6.6% Rate Decrease to Workers’ Comp Rates

Florida Insurance Commissioner David Altmaier has issued a final order approving the National Council on Compensation Insurance (NCCI)’s filing for a statewide overall decrease of 6.6% for Florida workers’ compensation insurance rates. This applies to both new and renewal workers’ …

Florida Regulator Calls for Further Workers’ Comp Rate Decrease

Florida’s insurance regulator has called for a further decrease to proposed workers’ compensation insurance rates in response to a filing by the National Council on Compensation Insurance (NCCI). In an order issued Oct. 30, Florida Insurance Commissioner David Altmaier said …

Amazon Injuries Could Spark Higher Workers’ Comp Rates for Fulfillment Centers

Injuries in Amazon.com Inc. warehouses could damage more than just the company’s reputation. They could start to hurt the e-commerce giant’s bottom line, as well. Washington state’s workplace safety regulator says workers in Amazon’s highly automated warehouses are injured at …

Vast Majority of COVID-19 Workers’ Compensation Claims Are Small, Says NCCI

If COVID-19 behaves like other workers’ compensation lung and disease claims, about two out of 100 cases may result in some degree of permanent partial disability and one out of 2,000 may result in permanent total disability, according to a …