WA Leads Double Digit Rate Increase Across Nation

Double-digit work comp rate increases will be typical this next and if predictions by analysts and the National Council on Compensation Insurance (NCCI) turn out to be true, employers across the nation can expect continued rate increases in the years ahead.Recently the monopolistic state of Washington is considering a 40.5 percent increase in premiums because of out of control costs and lower investment returns.Florida and South Carolina are problem states where NCCI, the states' rate making body, is asking for 21.5 percent and 20.2 percent increases respectively. Filings in Hawaii, Iowa and C...