Workers' compensation loss cost rates will decrease by an average of 5.3% in Missouri, effective Jan. 1.
The National Council on Compensation Insurance said the reduction is based on favorable trends such as a continuing reduction in lost-time claims and improved loss experience and premiums.
"While indemnity and medical severity both increased moderately in 2022, loss ratios continue to decrease," NCCI said in a State Advisory Forum. "Accordingly, lower trend factors were applied in this filing. The proposed loss cost level change also includes an update to the loss-based...
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