Loss Costs Increase by Another 0.70%

Pennsylvania Acting Insurance Commissioner Jessica Altman has approved an additional 0.7% increase in collectible loss cost based on experience. Combined with a recent emergency 6.06% increase in loss costs as a result of the state Supreme Court’s Protz ruling, the combined increase in loss costs will be 6.8%, the Pennsylvania Compensation Rating Bureau says in Circular No. 1699. The 0.7% increase was recommended by the PCRB in its annual filing and goes into effect April 1. The Protz increase was effective Feb. 1. The Protz increase was the largest in decades and the first one done m...