Login Register Subscribe
Current Issue

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

NCCI recommends 2.4% workers comp rate cut for Colorado

Reprints

The National Council on Compensation Insurance Inc. has recommended a 2.4% workers compensation loss cost cut in Colorado based partly on declining claim frequency in the state.

Indemnity claim frequency decreased 3% in Colorado between 2013 and 2014, Boca Raton, Florida-based NCCI said in a state advisory forum presentation posted online on Thursday.

The drop in claim frequency helped offset increases in workers comp claim severity in Colorado, NCCI said. In 2014, average indemnity payments in the state reached $23,400, up 6.7% from 2013. The average medical claim severity for Colorado comp claims was $31,100 in 2014, up 1.7% from 2013.