NCCI Recommending 8.2% Reduction in Loss Costs

The National Council on Compensation Insurance is recommending an 8.2% decrease in loss costs for both the voluntary and assigned risk markets in Alabama, effective March 1. NCCI said loss experience for policy years 2011, 2012 and 2013 is more favorable than that observed before policy year 2011. The state's claims frequency has been on the decline for about a decade. The proposed rate filing would reduce average loss costs for the manufacturing sector by 8.5%, contracting 8.7%, office and clerical by 10.3%, goods and services by 6.9% and miscellaneous industries by 8.1%. The state Dep...