NCCI Seeking 1.1% Increase in Loss Costs

The National Council on Compensation Insurance has asked South Carolina Insurance Director Raymond G. Farmer to approve a 1.1% increase in loss costs effective on Sept. 1, 2013.NCCI said in a filing submitted to the state Insurance Department this week that loss costs for jobs in the manufacturing sector would increase by 2%, while loss costs in the construction industry would decrease by 0.2%. Loss costs for office and clerical jobs would decrease by 3%, and loss costs for jobs in the goods-and-services sector would increase by 2.8%.The Boca Raton, Fla.-based rate maker said the increase is b...