Missouri workers comp rate reduction recommended
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The National Council on Compensation Insurance Inc. has recommended a 2.4% decrease in Missouri workers compensation loss cost rates for 2016, state insurance regulators said Thursday.
The rate cut recommendation is based on decreased workers comp claim frequency in Missouri, according to a statement from the Missouri Department of Insurance, Financial Institutions and Professional Registration. Claim severity has remained flat in the state compared with 2014, the department said.
The Missouri insurance department will review the rate filing from Boca Raton, Florida-based NCCI, and then make its own loss-cost rate recommendation, according to the statement.
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