Increases significantly outnumber decreases in rate filings

Once again, there are more filings for rate increases than decreases in the workers' comp system. NCCI reports of 20 filings so far, just six are for reductions.

"There are no double-digit [changes] either way," said Peter Burton, NCCI's senior division executive for state relations.

Last year, 75 to 80 percent of filings were for increases, signaling a change from recent years. Higher medical costs and flattening frequency were cited as drivers.

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The majority of the recent filings would affect rates as of Jan. 1. The filing cycle loss costs include these increases:

Iowa -- 7.9 percent.
Florida -- 6.1.
Colorado -- 6.1.
Hawaii -- 5.2.
New Mexico -- 5.1.
Arizona -- 4.0.
Maryland -- 3.8.
Tennessee -- 2.3
Kansas -- 2.3.
Missouri -- 2.1.
Oregon -- 1.7.
New Hampshire -- 0.6.
D.C. -- 0.4.
Oklahoma -- 0.4.

States filing for decreases are North Carolina (-0.5 percent), Illinois (-3.8), Alaska (-3.6), Virginia (-5.7), Kentucky (-7.9), and West Virginia (-9.1).

Of the filings, West Virginia, Kentucky, D.C., and New Mexico have been approved.

In the NCCI assigned risk filing cycle for 11 jurisdictions, only Alaska and West Virginia were for decreases. The states targeted for increases are North Carolina, Iowa, Virginia, Arizona, Oregon, Kansas, New Hampshire, and D.C. The filing for Illinois was for no change.

Read more at the WorkersComp Forum homepage.

October 11, 2012

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