According to the board of directors of the state's largest workers' comp insurer, the rates will go into effect July 1.
Officials said rates will be determined by looking at the types of jobs and business classifications of policyholders, as well as individual loss history. Overall average rates will depend on industry and loss experience.
The MSF and other workers' comp carriers in the state use the National Council on Compensation Insurance's annual loss cost filing report to help formulate premium rates. The recommended NCCI loss costs are used by the fund to establish the rates for its 28,000 policyholders for the coming year.
Read more at the WORKERSCOMP ForumTM homepage.
June 14, 2010
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