The North Carolina Rate Bureau (NCRB) on Monday released a loss-cost reference filing based on a 9.6% reduction in voluntary loss cuts approved by state Insurance Commissioner Wayne Goodwin and scheduled to take effect next April 1.NCRB said the approved prospective loss costs are based on historical data and exclude insurers' expenses, dividends, profits and contingencies.Insurers turn loss costs into rates by filing loss-cost multipliers (LCMs), which reflect overhead, profits and other factors. The LCMs also are filed with the North Carolina Department of Insurance.NCRB said insurers re...
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