NCCI Files for 16th Straight Loss Cost Cut Since 2006

The National Council on Compensation Insurance has filed for an average 8.3% loss cost decrease for the voluntary market in West Virginia, and an 11% decrease for the assigned risk market, the state Insurance Commissioner announced. The decrease, which should translate to lower premiums for many employers, will take effect Nov. 1 and will result in an estimated $16 million in savings to West Virginia businesses, the bulletin said. “Since the workers’ compensation program was privatized in 2006, the market has experienced approximately $417 million in premium savings,” the c...