NCCI files 4.5% workers comp rate decrease for Illinois
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The National Council on Compensation Insurance Inc. is seeking to decrease Illinois workers compensation rates by 4.5% for policies incepting on Jan. 1, 2014, the Illinois Workers' Compensation Commission announced Tuesday.
But in Illinois, insurers setting their prices are free to decide whether to adhere to such rate changes, which the state describes as “voluntary advisory insurance rates.”
The new rate filing follows a recommended 3.8% decrease in Illinois for 2013.
The decreases follow from workers comp reforms adopted in 2011, the IWCC said in a statement.
