Insurance Dept. Approves 4.8% Decrease in Loss-Cost Ratio

Montana approved a 4.8% voluntary market loss-cost decrease, resulting in a 45.2% cumulative lost-cost reduction for the state, according to the National Council on Compensation Insurance. The NCCI’s advisory forum, released on June 3, ranks Montana as fourth lowest in loss-cost rates for the Western region, just ahead of Oregon’s 5.3% decrease. New Mexico leads the region with a 2.3% increase in loss costs, according to the forum.  The rate reduction is attributed to a 5.2% decrease in experience and a 0.4% increase in loss adjustment expenses.   The cumulative de...