Rates Going Down for Most, Up for Assigned Risk Pool

Most South Carolina employers will see an average 7% reduction in workers’ compensation rates, but employers caught in the assigned risk pool will see a 9.7% jump. The change takes effect April 1. The reduction in loss costs to the voluntary market will benefit the office and clerical sector most, with an average reduction of 11.8%. In other sectors, average rates will drop 6% or 7%. Premiums for policies in the South Carolina assigned risk market will go up because of an increase in the loss-cost multiplier used to calculate rates. The National Council on Compensation Insurance ...