NCCI Recommending 16.3% Loss Cost Reduction

Oklahoma employers will see a 16.3% decrease workers’ compensation loss costs next year if the state Insurance Department approves a filing by the National Council on Compensation Insurance. The department announced Thursday that NCCI recommended the reduction in large part because of the success of reforms passed by the Legislature in 2013. If approved after a review by the Insurance Department, the decrease will take effect Jan. 1. The department said the reduction would mark a cumulative 63.7% rate decrease since the reforms were passed. Although NCCI has recommended sever...