Rate Bureau Filing Recommends 15.9% Decrease in Rates

Another state's rating agency has recommended a double-digit drop in workers' compensation rates.  The North Carolina Rate Bureau this week released a loss-cost filing that recommends an overall decrease in rates of 15.9%, effective April 1, 2019. That follows reductions of 11.3% for this year, 14.4% for 2017 and 10.2% for 2016. "My conclusion is that the Rate Bureau used appropriate actuarial methods and reasonable assumptions in its calculation of the overall change in loss costs in the voluntary loss-cost filing," according to testimony to the bur...