TDI Approves NCCI Loss Cost Decrease of 6.7%

The Texas Department of Insurance has accepted the National Council on Compensation Insurance recommendation of a 6.7% loss cost decrease for the voluntary risk market, effective July 1. The department also is reminding insurers that the state is no longer providing relativities, and carriers must utilize their own calculations or use NCCI's. Senate Bill 1336, signed into law in 2019, allowed TDI to stop developing its own relativities because it was time-consuming for the department, and most insurers now rely on NCCI's loss cost filings. In its filing, NCCI also explained that it h...