Insurance Department Approves 2.9% Loss Costs Reduction

The New Hampshire Insurance Department approved a filing by the National Council on Compensation Insurance that will reduce voluntary workers' compensation loss costs by an average of 2.9% in 2027. The department also approved a recommendation to lower assigned risk rates by an average of 3.4%. The department said this is the 15th consecutive rate cut, and loss costs have declined a cumulative 68% over the last 15 years. Loss costs represent the portion of workers’ compensation rates associated with the expected cost of claims for work-related injuries.  Deputy Insurance Com...