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Employers to See Massive Rate Drop After Corrective Filings, New Loss Cost Decrease

By William Rabb (Reporter)

Tuesday, March 12, 2019 | 404 | 0 | 41 min read

Pennsylvania employers this year will see as much as $750 million in rebates and rate cuts, partly due to an error that was corrected, partly the result of action by the legislature and partly because of a nationwide trend toward fewer claims. As of this week, some 70 insurers have made corrective filings to provide relief to thousands of employers that were overcharged on premiums after a 2017 error by the Pennsylvania Compensation Rating Bureau. The filings amount to roughly a 10% reduction in premiums, and some will be in the form of refund checks issued to policyholders. Th...

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