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Member, Beacon International Group, Ltd.
COLUMBIA, S.C.—NCCI Holdings Inc. is seeking a 7.3% loss-cost increase in South Carolina’s workers compensation rates, the state’s Workers' Compensation Commission said.
The rate increase would take effect July 1 if approved by the South Carolina Department of Insurance.
Boca Raton, Fla.-based NCCI requested the rate hike based on deteriorating workers comp claims experience in South Carolina, as well as increasing frequency for indemnity and medical claims, according to a statement from the workers comp commission.
The commission said this is the first rate increase that NCCI has sought in South Carolina since 2008.
PHOENIX—NCCI Holdings Inc. has requested a 5.2% increase in Arizona workers compensation rates for 2012, according to a presentation from the rating and research organization.