Loss-cost increase in workers comp rates sought for South Carolina

COLUMBIA, S.C.—NCCI Holdings Inc. is seeking a 7.3% loss-cost increase in South Carolina’s workers compensation rates, the state’s Workers' Compensation Commission said.

The rate increase would take effect July 1 if approved by the South Carolina Department of Insurance.

Boca Raton, Fla.-based NCCI requested the rate hike based on deteriorating workers comp claims experience in South Carolina, as well as increasing frequency for indemnity and medical claims, according to a statement from the workers comp commission.

The commission said this is the first rate increase that NCCI has sought in South Carolina since 2008.