TDI Approves 11.5% Loss Cost Reduction

The Texas Department of Insurance announced that it adopted a National Council on Compensation Insurance recommendation to reduce the average advisory loss cost by 11.5%, effective July 1. Carriers are required to use NCCI's loss costs or their own insurer-specific classification relativities as the basis for all work comp policies written on or after July 1. The department, in a bulletin issued Friday, reminded insurers of the requirement to file all rates, supplementary rating information and reasonable and pertinent supporting information for risks written in Texas. The filings m...