Dueling Actuaries Debate Proposed Rate Hike

An actuary hired by the Pennsylvania Association for Justice has concluded that a 6.06% emergency rate increase recommended by the Pennsylvania Compensation Rating Bureau is “excessive and not supported.” A separate actuarial analysis commissioned by the state’s Office of Small Business Advocate, which represents employers, found the proposed rate hike to be justified, however. Allan Schwartz, of AIS Risk Consultants Inc. in Freehold, New Jersey, says in a preliminary analysis obtained by WorkCompCentral that the rating bureau’s filing as a result of the state Supreme...