State Posts Lower Loss Costs for Most Classifications

The West Virginia insurance commissioner has approved loss cost decreases for the voluntary and assigned risk markets, effective Nov. 1. The average reductions, 8.3% for the voluntary market and 11% for the residual market, were recommended in July by the National Council on Compensation Insurance. The Office of Insurance Commissioner on Monday posted the rates for all classifications. For full-time domestic workers, class 0913 — the most expensive class — the average loss cost in the voluntary market will drop from $191 per worker to $176. Roofing workers, c...