NCCI Recommends 5.1% Rate Decrease

The National Council on Compensation Insurance has asked Louisiana regulators for a 5.1% reduction in workers' compensation advisory rates that will take effect on May 1, 2014.The council attributed the 5.1% decrease to a drop in the frequency of lost-time claims in 2011, more favorable experience in 2011 and improvements in both indemnity and medical-loss ratios in 2011. The NCCI's rate filing, if approved, would reduce rates in the following industry groups as follows:Manufacturing -  6.7%.Contracting - 5%.Office and clerical - 6.1%.Goods and services - 5.7%.Miscellaneous - 2.7%...