Insurance Commissioner Approves 1.9% Premium Level Increase

The Indiana Department of Insurance has approved a 1.3% increase in loss costs for the voluntary and assigned risk markets effective Jan. 1, which results in a 1.9% increase in premium levels, according to the state Compensation Rating Bureau. The Rating Bureau and the National Council on Compensation Insurance had recommended on Sept. 21 an overall premium level increase of 3.2%, but Insurance Commissioner Stephen Robertson rejected the bureau's proposal to increase the profit and contingency factor in the rate filing to 3% from 2.5%. The rate filing, approved Nov. 5, also decreases the...