NCCI Recommending 4.1% Loss Cost Increase

The National Council on Compensation Insurance is recommending an average 4.1% increase in loss costs for South Carolina, to take effect on Sept. 1. Most of the increase, 3.7%, is due to changes in experience and trend, based on premium and loss experience for policy years 2012 and 2013, NCCI said. Experience for 2013 was less favorable than for policy year 2012. NCCI said claim frequency was relatively flat for most of the last eight years, but medical loss ratios have been more volatile. If the lost-cost filing is approved by the South Carolina Department of Insurance, the manufactur...