VA SCC Schedules Hearing re: Proposed Rate Increase

The Virginia State Corporation Commission (SCC) has scheduled a November hearing to consider a request filed by the National Council on Compensation Insurance, Inc. (NCCI) to adjust the premium levels charged for workers' compensation insurance. Workers' compensation insurance provides medical care and wage replacement benefits to injured workers. Almost all Virginia employers are required to carry the coverage. NCCI has proposed an increase in the overall premium level for industrial classifications in the voluntary market and assigned risk plan. Overall loss costs and premium le...