South Carolina rates may increase; Pennsylvania's to decrease
The proposal is now before the Workers' Compensation Commission. Officials said it would be the first rate hike that NCCI has sought there since 2008.
NCCI has made the following rate filings in 39 jurisdictions so far in the current cycle:
- 27 for increases.
- Seven for decreases.
- Two for no change.
- Three off-cycle law filings.
The majority of the filings have been approved with three states reducing the proposed increases slightly, officials said.
Meanwhile, Pennsylvania employers will see their first overall rate decrease in three years. The Pennsylvania Insurance Department approved a 5.7 percent decrease, which they say will result in $160 million in savings for employers.
Officials credit employers with the "outstanding job they are doing to provide safer workplaces" for the decrease. Specifically, there are more than 9,600 businesses enrolled in the state's Certified Workplace Safety Committee program, which entitles employers to an additional 5 percent discount. Businesses with a certified safety committee have realized insurance premium reductions totaling $432.8 million since the program began, officials said.
Read more at the WorkersComp Forum homepage.
February 27, 2012
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