Workers’ compensation in Louisiana last year saw declining premium volume and frequency, increasing indemnity and medical costs, and deteriorating combined ratios, the National Council on Compensation Insurance says.
NCCI presented the data Wednesday at its State Advisory Forum in Baton Rouge and detailed its proposed 0.4% loss cost increase in the voluntary market. If approved by the Department of Insurance, the rate hike would take effect May 1.
Of the 37 states and District of Columbia where NCCI recommends rates, Louisiana was one of only three for which increases were filed for 20...
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