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Advisory Rate Filing Recommends 12.1% Reduction in Loss Costs

Monday, October 2, 2017 | 540 | 0 | 81 min read

The Indiana Compensation Rating Bureau has proposed its 2018 advisory rate filing and recommends a 12.1% decrease in overall voluntary loss costs, and a 12.8% reduction in the overall rate level in the voluntary and assigned-risk markets. The proposed rates would become effective Jan. 1 for all new and renewal business. The filing credits a 7% drop in Indiana’s lost-time claim frequency in 2015, the latest complete policy year available. The actuarial analysis was performed by Robert Moss, an assistant actuary with the National Council on Compensation Insurance. He found that the bu...

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