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NCCI Proposes Rate Cuts for 2025

Monday, September 30, 2024 | 0

The National Council on Compensation Insurance recommended an average 6.1% cut in voluntary loss costs for Connecticut in 2025. NCCI also proposed a 6.2% average reduction in the assigned risk market rates in a filing submitted to the Connecticut Insurance Department. NCCI said the primary driver of the proposal is improved experience. Lost-time claim frequency has generally been declining in the state. Although claims increased in policy years 2020 and 2021, NCCI said those increases — along with larger-than-typical decreases in policy years 2018 and 2019 — may reflec...

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