22 states are seeing increases in loss costs based on NCCI numbers
The highest was in Iowa, which approved a 3.9 percent increase with another 7.9 percent hike to take effect in July. Other jurisdictions with increases in order of amounts include Connecticut, Florida, Colorado, Hawaii, New Mexico, Alabama, Indiana, Mississippi, Arizona, Idaho, Maryland, Nevada, Louisiana, Tennessee, Kansas, Missouri, Oregon, New Hampshire, the District of Columbia, Oklahoma, and Nebraska. Proposed increases are under consideration in Rhode Island and Vermont.
West Virginia regulators approved a 9.1 percent decrease -- the largest in the nine states with reductions. The others in order of decrease sizes are Kentucky, Virginia, Alaska, Illinois, Georgia, Maine, Utah, and North Carolina. Texas regulators are considering a 3.8 percent decrease in loss costs.
Among 20 jurisdictions with assigned risks, regulators have approved increases in 14 states, decreases in two states and no change in three states. Vermont is considering a 1.9 percent decrease.
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January 28, 2013
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