NCCI Proposes 1% Decrease in Loss Costs

The National Council on Compensation Insurance proposed a 1% decrease in the South Dakota market's loss cost level, and a 0.9% decrease in its assigned risk rate level, in a filing submitted Feb. 16. The South Dakota Division of Insurance will hold an informal hearing on that filing on March 29. The rates would take effect July 1.  NCCI based the filing on financial data from Dec. 31, 2014, to Dec. 31, 2015. "Both indemnity and medical loss ratios trends suggest maintaining the current approved trends," NCCI wrote in a one-page summary of the filing. NCCI noted that as a...