NCCI Recommends Another Rate Reduction: 9.2%

The National Council on Compensation Insurance is recommending a 9.2% reduction in Iowa's overall voluntary and assigned risk rate level, effective Jan. 1. The filing, released this week, marks the third straight year that the rate-making organization has recommended a rate reduction for the state. Rates dropped 8.7% this year and 3.9% in 2017, following approval by the Iowa Insurance Division. This year's recommendation is based on improved premium and loss experience for the past three years, and a continued decline in claims frequency, the filing noted. Claim frequency h...