Leonardi Approves 3.2% Loss-Cost Increase

Connecticut Insurance Commissioner Thomas Leonardi last week approved a call by the National Council on Compensation Insurance to increase loss costs in the voluntary workers' compensation market by 3.2% and to increase assigned-risk plan rates by 5.7%, effective on Jan. 1, 2014.NCCI filed for the increases on Sept. 17 and said average costs for both indemnity and medical benefits remain high and are growing faster than wages. The ratemaker said rising costs have been somewhat offset by continuing declines in claims frequency, but medical costs-per-claim have increased significantly during...