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”.

Login Register Subscribe

Connecticut to consider 9.8% loss cost reduction for comp

percent decrease

The National Council on Compensation Insurance is proposing an average 9.8% reduction in voluntary loss costs for Connecticut workers compensation insurance costs, effective Jan. 1.

The filing is based on premium and loss experience for policy years 2020-2022 and excludes claims for COVID-19. NCCI said the primary driver of the proposal is improved experience.

Lost-time claim frequency has generally been declining in the state. Although claims increased in policy years 2020 and 2021, frequency declined a cumulative 5% over the period from 2018 to 2021.

Average indemnity and medical cost-per-case figures have been declining and the decrease in severity is more than enough to offset increases in frequency.

The Connecticut Insurance Department on Wednesday opened a 30-day public comment period on the NCCI rate filing.

WorkCompCentral is a sister publication of Business Insurance. More stories here.