New Experience Rating Premium Eligibility Methodology Adopted

North Carolina Insurance Commissioner Wayne Goodwin has approved a filing by the state Rate Bureau to adopt two new provisions from the National Council on Compensation Insurance. The provisions deal with creating a new methodology to calculate experience rating premium eligibility amounts. North Carolina has adopted NCCI’s Revised Experience Plan Rule 2-A-2, which creates a new table of premium eligibility amounts, and Rule 4-C-1, which clarifies that North Carolina does not issue preliminary modifications for intrastate-rated risks. The revisions apply to all new and renewal volu...