NCCI Proposes 7.9% Loss-Cost Decrease

The National Council on Compensation Insurance filed a proposed workers’ compensation loss-cost decrease of 7.9%, effective Nov. 1, the West Virginia Offices of the Insurance Commissioner announced. The proposed reduction would result in about $15 million in savings for West Virginia employers, the agency said. The latest filing represents the 17th consecutive loss-cost decrease and accounts for a cumulative 79.9% reduction from pre-reform workers’ compensation levels. At the same time, a proposed 9.8% rate decrease for the assigned risk market was also filed. ...