VA Rates Average Increase of 4.9%

The Virginia State Corporation Commission approved rate increases sought by the National Council on Compensation Insurance for policies incepting on or after April 1. In the voluntary market, industrial premiums will rise 4.9 percent on average. Federal rates will drop 15.6 percent, surface-mine rates 12.2 percent and underground-mine rates 7.4 percent. Assigned-risk rates in the industrial class will rise 10.2 percent on average, while federal, surface-mine and underground-mine rates will drop 11.7 percent, 5.5 percent and 2.4 percent on average, respectively.WCC...