The National Council on Compensation Insurance is recommending that the Alabama Department of Insurance decrease workers' compensation loss costs by an average of 2.2%, effective March 1.
In a summary of the filing posted to its website, NCCI said it has also recommended a 1.6% increase in assigned risk market rates.
NCCI said the proposed loss cost decrease is primarily driven by a continued decline in claim frequency.
At the same time, the average cost per lost-time claim, after adjusting for inflation, has remained consistent from 2021 through 2024, with no strong upward o...
Comments