The National Council on Compensation Insurance on Wednesday filed a proposed 12.7% loss cost decrease in West Virginia, effective Nov. 1.
Gov. Jim Justice’s office said in a statement that the reduction would save employers about $20 million in premiums.
The latest filing represents the 19th consecutive year of lost cost decreases.
At the same time, NCCI proposed a 16.9% rate decrease for the assigned risk market.
The governor’s office said the market has experienced about $466 million in premium savings since the work comp program was privatized in 2006.
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