NCCI Proposes 12.1% Loss Cost Decrease

The National Council on Compensation Insurance has proposed a 12.1% decrease to Alabama's voluntary loss costs and a decrease of 13.6% to the assigned risk rates, effective March 1. The state's claims frequency has been declining for about a decade. This year's proposed loss cost decrease tops last year's by several percentage points. NCCI recommended an 8.2% decrease in loss costs for both the voluntary and assigned risk markets in Alabama last year. The proposal comes as neighboring Florida disputes a proposed NCCI rate hike of 19.6%. Florida's insurance commissioner re...