Commissioner Approves 10.8% Loss Cost Decrease

The Kentucky Department of Insurance announced Friday that it has approved a 10.8% average loss cost decrease, which took effect retroactively to Oct. 1. The department said it was the 13th consecutive loss cost decrease in the state.  But rates did not decline for all classes. Coal classes saw an 11.7% increase, and surface mining increased 16.7%. Insurance Commissioner Nancy Atkins praised state lawmakers for passing House Bill 2, which included reforms that made the rate decrease possible. Employers' safety efforts also played a role, she said. ...