NCCI Submitting Supplemental Information on Rate Filing

Instead of filing for a 5.1% rate decrease as requested by Insurance Commissioner Kevin McCarty, the National Council on Compensation Insurance said Friday that it has submitted supplemental information to the Office of Insurance Regulation. NCCI in August proposed a 1.9% rate decrease and within that filing asked the insurance office to approve an increase in the profit and contingency factor to 4% from 2.5%. McCarty rejected that portion of its rate filing in an order issued Nov. 3. McCarty's office also took issue with the projected loss trend that NCCI used in its rate filing, s...