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N.C. workers comp loss costs to increase 0.6%

Roberto Ceniceros

October 27, 2010 Reprints

Workers Comp Coverage More + Less -

RALEIGH, N.C.—Insurance Commissioner Wayne Goodwin said Wednesday that North Carolina workers compensation insurance policy loss costs will increase an average of 0.6%, effective April 1, 2011.

The North Carolina Rate Bureau had requested an average increase of 1.2% in loss costs. But a settlement between his office and the Rate Bureau will result in $7 million in savings for North Carolina business, the commissioner said.

The settlement also resulted in a 4.1% increase for assigned risk market accounts.

In 2009, the commissioner ordered a 9.6% decrease in voluntary market loss costs and no change in assigned risk loss costs.

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N.C. workers comp loss costs to increase 0.6%

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