NCCI Files For Rate Reduction

The National Council on Compensation Insurance filed a rate change for Jan. 1, which it projects could reduce workers’ compensation premiums in Maryland, according to a July 28 release from NCCI. NCCI has proposed an overall average workers’ compensation voluntary market loss-cost level reduction of 5.3% for next year because the cost of claims in the state had gone down, according to David Benedict, the state relations executive for NCCI. He said it could lead to lower premiums. “This means the annual cost of a claim is 5.3% less than last year,” Benedict said. &ldqu...