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National Council proposes workers comp rate hike for Hawaii in 2015

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National Council proposes workers comp rate hike for Hawaii in 2015

The National Council on Compensation Insurance Inc. has proposed a 3.2% rate increase in Hawaii workers compensation advisory rates for 2015.

In a presentation last week at the Hawaii State Advisory Forum, the Boca Raton, Florida-based NCCI attributed its proposed rate increase to increases in medical and indemnity expenses.

For example, the report notes that while Hawaii's lost-time claims frequency has leveled off in recent years, it remains higher than the national average. Another area where the state is an outlier is in indemnity costs, the NCCI said. While indemnity costs as a percentage of total benefits costs average 41% nationally, in Hawaii they account for 52% of total benefits costs.

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