DOI Approves 3.7% Loss Cost Reduction

The Alaska Division of Insurance approved a 3.7% average decrease in voluntary loss costs and an average 4.8% reduction in assigned risk rates, effective Jan. 1. The National Council on Compensation Insurance said its recommendations for 2026 loss costs and assigned risk rates show improvement relative to the data underlying recommendations for 2025. "Alaska's lost-time claims frequency has generally declined over the last 15 years, with another decline observed in the latest year, 2023," NCCI said in a summary of the filing. "The average cost per lost-time claim has also ...