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• Lower frequency leads to rate decrease. Employers will see loss costs drop by nearly 4 percent in March. Nevada Insurance Commissioner Brett Barratt recently announced the average 3.9 percent reduction in voluntary loss costs and 2.2 percent for assigned risk rates.
  Insurers use the loss costs to determine rates by using lost cost multipliers.
  Barratt credited lower workers' comp costs during the past decade for the decision. He said fewer claims have offset generally increasing indemnity and medical costs as well as cost-of-living adjustments.

Read more at the WorkersComp Forum homepage.

February 7, 2011