State Approves 2.5% Loss Cost Reduction

The Rhode Island Department of Business Regulation Insurance Division approved an overall 2.5% decrease in workers' compensation advisory loss costs for policies incepting on or after Aug. 1. The department's April 23 approval letter said its careful review and analysis determined that the reduction recommended by the National Council on Compensation Insurance is supported. The department's analysis is included in an actuarial report, but a link to the report generated a "404: page not found" error on Wednesday afternoon. In its November filing, NCCI ide...