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The National Council on Compensation Insurance is proposing a 14.1% reduction of overall voluntary loss cost level in Connecticut, per an announcement made public Thursday.
The filing, made Sept. 21 and subject to the approval of the Connecticut Insurance Department, also proposes a 12.6% reduction in overall assigned risk rate level, which could reduce workers compensation rates for Connecticut employers.
Per Boca Raton, Florida-based NCCI’s filing, the numbers are based on premium and loss experience for the policy years 2014 and 2015 and that “the frequency of lost-time claims in Connecticut continues its long-term downward trend, dropping considerably in the latest policy year.”
The National Council on Compensation Insurance said Wednesday that it recommends a 10.9% workers compensation premium rate decrease for Illinois.