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COLUMBIA, S.C.--A South Carolina judge ruled Monday that workers compensation pure premium rates should increase by 18.4% beginning in December, according to the state's Department of Insurance.
Boca Raton, Fla.-based NCCI Holdings Inc. recommended last year that the state increase the rates by 32.9%, but the South Carolina Small Business Chamber of Commerce fought the proposal.
The disagreement sent the issue to hearings before the judge, whose decision is a good one for small business in the state since it lowered the increase from the proposed 32.9% hike, said Frank Knapp, president of the South Carolina Small Business Chamber of Commerce.
An appeal of his ruling is possible, though, Mr. Knapp said.