Hearing Set for NCCI's Recommended 1.8% Loss Cost Decrease

The Connecticut Insurance Department is accepting comments on a proposed average loss cost decrease of 1.8% for the voluntary workers' compensation market and a decrease of 1.4% in assigned risk rates. The National Council on Compensation Insurance recommended the decreases, which would take effect Jan. 1, 2021, the department said in a bulletin Monday. The contracting industry group would see one of the largest loss cost cuts — a drop of 2.4%. Manufacturing would see a slight increase under the plan. The decrease follows a 2.9% reduction approved last year for the voluntary marke...