NCCI Recommending 3% Rate Cut for Voluntary Market

The National Council on Compensation Insurance has recommended a 3% average reduction in workers’ compensation premium rates for the Connecticut voluntary market. Proposed changes to voluntary loss cost level will vary by industry group, with NCCI proposing an average decrease of 0.7% for the miscellaneous sector and a 5.3% reduction for the office and clerical sector. NCCI is recommending a 4.6% cut for contracting, a 2.8% reduction for goods and services and a 2.5% decrease for manufacturing. NCCI is not proposing any change to the current assigned risk rate level. The new loss cost...