Protz Ruling Triggers Interim Filing of 6.06% Hike in Loss Costs

The Pennsylvania Compensation Rating Bureau late Tuesday filed an emergency 6.06% loss cost increase in the wake of a state Supreme Court decision that blocks impairment rating evaluations. The interim filing is the first in at least 20 years and follows a cumulative decrease of 62.3% in loss costs since 1997, the year after lawmakers passed Act 57 and created the IRE process, officials said. “That’s the most significant increase the workers’ compensation market has seen in decades,” said Sam Marshall, president and chief executive officer of the Insurance Federation ...