The New Hampshire Insurance Department (NHID) recently approved a workers’ compensation rate proposal that will reduce voluntary loss costs by 14% on average. The new rates will apply to policies effective starting on January 1, 2024. According to the insurance …
The New Mexico Office of Superintendent of Insurance approved a rate proposal submitted by the National Council on Compensation Insurance that will reduce voluntary workers’ compensation loss costs by an average of 10.7%, to become effective for policies renewing on …
The Idaho Department of Insurance accepted a 11.5% reduction in rates, effective January 1, 2023. This follows the National Council on Compensation Insurance submission of its annual rate recommendation to the Idaho Department of Insurance for review. NCCI’s recommendation is …
Connecticut workers’ compensation costs to employers are on their way down, again. The industry’s National Council on Compensation Insurance’s (NCCI) has proposed an overall average change of -3.0% to the current voluntary loss costs and no change to the current …
This post is part of a series sponsored by The Hanover Insurance Group. Workers’ compensation claims can significantly impact a business’s productivity and bottom line. Out-of-work employees cause company leaders to deal with the burden of a smaller workforce, training …
The National Council on Compensation Insurance’s (NCCI’s) advisory loss cost filing for Texas with an effective date of July 1, 2021, has been accepted by state insurance regulators. The Texas Department of Insurance reported that for all workers’ compensation policies …
The New Hampshire workers’ compensation insurance market will continue to experience historically low rates in 2021, according to a press release issued by the New Hampshire Insurance Department. This comes after the New Hampshire Insurance Department approved a rate proposal …
The share of “mega” workers’ compensation claims — those expected to cost $3 million or more — climbed steadily since 2013 after dropping as construction employment declined sharply during the Great Recession, according to a report by the National Council …
The workers’ compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice president and chief economist for the Insurance Information …
Florida Insurance Commissioner David Altmaier has issued a final order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall decrease of 7.5% for Florida workers’ compensation insurance rates. This applies to both new and renewal …
