Commissioner Approves 1.8% Decrease in Loss Costs for 2021

Connecticut Insurance Commissioner Andrew Mais approved a slight decrease in loss costs as recommended by the National Council on Compensation Insurance. The NCCI in September recommended a 1.8% decrease in pure premium loss costs for the voluntary workers' compensation market and a 1.4% drop in assigned risk plan rates. Mais said in a bulletin that he accepted the rates, which take effect Jan. 1. The insurance department received no public comments on the plan and did not hold a hearing. The decrease follows a 2.9% reduction approved last year for the voluntary market and a 4.5% re...