NCCI Proposing Policy Rate Decrease

The National Council on Compensation Insurance (NCCI) is proposing that workers' compensation policy rates for Connecticut employers decrease by an average of 1.4% in 2009, but that assigned risk rates increase by 1.6%. NCCI filed a report with the Insurance Department on proposed voluntary loss costs and assigned risk rates that will take effect on Jan. 1. According to NCCI, the average indemnity cost per case has increased considerably since 1997. Because the decrease in frequency more than offsets the increase in severity, NCCI proposed an indemnity loss ratio trend factor of a decrease...