National Council on Compensation Insurance News

N.H. Approves Reduced Workers’ Comp Voluntary Loss Costs

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 …

Analytics Helping Insurers Identify Workers’ Compensation ‘Mega’ Claims More Quickly

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 …

Workers’ Compensation Rates Won’t Be Adjusted for Coronavirus Experience This Year

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 …

Statewide Overall Decrease of 7.5% Approved for Florida Workers’ Comp Rates

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 …

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 …

Workplace Injuries Continue to Decline But Could Rise with Low Unemployment

The number of workplace injury claims continues to decline year after year despite significant changes in workforce demographics that experts thought would increase claims frequency, according to a report by the National Council of Compensation Insurance. The number of workers …

Pinnacol in Colorado to Drop Workers’ Comp Rates, Issue Dividend in 2019

Pinnacol Assurance’s Board of Directors has approved a plan to decrease workers’ compensation rates in 2019 by an average of 10 percent. The decrease will go into effect on Jan. 1, 2019, and will be the fourth straight year Pinnacol …

Connecticut Approves 17% Workers’ Comp Rate Cut for 2019

The Connecticut Insurance Department has approved a nearly 17 percent decrease in rates for workers’ compensation insurance, marking the fifth consecutive year that rates have dropped in Connecticut. “This steady drop – nearly 50 percent over the last five years …

Idaho Workers’ Comp Rates to Decrease for 2018

The Idaho Department of Insurance has received a proposal from the National Council on Compensation Insurance for an overall rate drop of 5.8 percent percent to workers’ compensation insurance. The decrease is to become effective Jan. 1, 2018. Department Director …

Iowa Workers’ Comp Rate to Drop in 2018; Debate On as to Why

Iowa’s governor and the organization that sets workers’ compensation rates are disputing whether a new law influenced a recent rate reduction in premiums for employers. The National Council on Compensation Insurance announced an 8.7 average premium reduction for Iowa employers …