Connecticut regulators weighing proposed 7 percent loss cost hike

Experience, trend, benefits, and expenses are the four components cited for NCCI's proposed workers' comp rate hike in Connecticut.

The Florida-based agency proposed an increase of 7.1 percent for voluntary loss costs and a 0.4 percent increase to the assigned risk rate level to take effect in January.

In its filing, NCCI notes:

Lost time claim frequency increased in 2010 following several years of decline.
The average medical cost per case increased significantly in 2010 following a period of modest increases.
Average indemnity cost per case continues to increase at a slightly faster pace than wages.

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Coalition disputes contentions in think tank's report on N.Y. assessments (04/19/12)
Insurance group points to 49 percent drop in premiums in Texas (11/01/12)
California: Frequency for private self-insureds drops a hair (09/10/12)

Insurance Commissioner Thomas B. Leonardi said there would be no public hearing. However, interested parties may provide comments for consideration.

Read more at the WorkersComp Forum homepage.

October 25, 2012

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