Missouri Punts NCCI's Loss Cost Numbers

The Missouri Department of Insurance kicked back a loss-cost recommendation to NCCI, saying the recommendation that insurers reduce rates by only 1% after passage of a major reform bill was far too conservative. The department, in an announcement made Thursday, said its own actuary studied NCCI's recommendations on loss costs for 2006 and concluded that a 5.2% reduction was justified. About half of that decrease was attributed to passage of Senate Bill 1, which is now the subject of a legal challenge by labor groups. "NCCI's assumption of a -1% impact is made without objective evidence," Dep...