NCCI Proposes 1.6% Loss Cost Decrease

The National Council on Compensation Insurance filed a proposed workers’ compensation loss cost decrease of 1.6%, effective Nov. 1, the West Virginia Offices of the Insurance Commissioner announced. The proposed reduction would result in $3 million in savings to employers in the state. “Since the workers’ compensation program was privatized in 2006, the market has experienced approximately $401 million in premium savings,” the commissioner’s office said in a statement. “The latest filing represents the 15th consecutive year of loss cost decreases, and acco...