Bureau Approves Changes to Experience Rating Manual

The Virginia commissioner of insurance has approved changes to the experience rating plan manual, as recommended by the National Council on Compensation Insurance. The Insurance Bureau staff has determined that the filing “will not produce rates which are excessive, inadequate or unfairly discriminatory, and should be, and they hereby are approved,” the commissioner wrote in a bulletin posted last week. The NCCI in August had recommended changes to the manual of rules, classifications and rates, to take effect Feb. 1, 2020. The order includes revisions to form ERM-14 for con...