Goodwin Approves 0.5% Decrease in Loss Costs

North Carolina Insurance Commissioner Wayne Goodwin has approved a 0.5% decrease in loss costs to take effect on April 1, 2013.The North Carolina Rate Bureau said in a circular that insurers deciding to change their loss-cost multipliers filed with the North Carolina Insurance Department must notify Goodwin prior to the effective date of the filing. Insurers wishing to use the revised loss costs and a loss-cost multiplier already on file with Goodwin's office need not file anything.The changes will result in an average 4.9% decrease for job classifications in the office-and-clerical sector...