The National Council on Compensation Insurance is recommending an average 1.4% increase in loss-cost rates for Hawaii, which would mark the fifth rate hike in as many years.
The proposed loss-cost rates would cause an average 1.2% decrease for the manufacturing sector and a 0.5% decrease for contracting. The office and clerical sector, on the other hand, would see rates rise by 0.9%, goods and services 1.9% and miscellaneous industries by 3.5%.
According to a state advisory forum posted on NCCI's website, claims frequency has been flat in the past several years, standing at 28.6 claims p...
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