NCCI Proposes 8.3% Reduction in Loss Costs

The National Council on Compensation Insurance proposed an 8.3% reduction in loss costs for Colorado’s voluntary market, effective Jan. 1. The recommendation is based on premium and loss experience for policy years 2018 and 2019 and excludes claims resulting from COVID-19, according to the filing submitted to the Colorado Insurance Division. Lost-time claim frequency has declined steadily since 2011, according to the filing. And the state’s indemnity average cost per case has been relatively consistent while the average medical cost per case decreased in recent policy years. The...