The National Council on Compensation Insurance is recommending a 16.8% decrease in loss costs for Hawaii, which would produce a cumulative reduction of 38% since 2005 -- even though the state bucked a national trend by rejecting proposed cost-saving reforms.
The reduction will be even larger if state Insurance Commissioner J.P. Schmidt has his way. Schmidt told WorkCompCentral on Monday that he has asked NCCI to reconsider its filing to see if there aren't even more savings to insurers and employers.
"It may not be enough, based on some of the numbers we've seen," he said.
Schmidt s...
Comments