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N.J.:  2023 WC overall rate level decreases 6.1%

N.J.: 2023 WC overall rate level decreases 6.1%

by Dan Corbin, CPCU, CIC, LUTC | Nov 16, 2022 | Technical

The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -6.1% to become effective Jan. 1, 2023, applicable to new and renewal policies. The NJCRIB distributed Circular Letter No....

NCCI 2023 WC loss cost decrease of 3% approved in Connecticut

NCCI 2023 WC loss cost decrease of 3% approved in Connecticut

by Dan Corbin, CPCU, CIC, LUTC | Oct 27, 2022 | Technical

The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 3% decrease. Also approved is an overall assigned risk rate change of 0%. These loss...

NHID approves NCCI 2023 WC loss cost decrease of 7%

NHID approves NCCI 2023 WC loss cost decrease of 7%

by Dan Corbin, CPCU, CIC, LUTC | Sep 28, 2022 | Featured, Technical

The New Hampshire Insurance Department approved the original workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 7% decrease. In addition, a decrease of 7% of the overall assigned risk rates...

N.Y.: Revised WC loss costs take effect 10/1/22

N.Y.: Revised WC loss costs take effect 10/1/22

by Dan Corbin, CPCU, CIC, LUTC | Sep 26, 2022 | Featured, Technical

In May, an application for an overall loss cost decrease of 8.7% was submitted to the New York Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as filed with an effective date of Saturday, Oct. 1,...

Vt.: DFR approves NCCI 2022 4.9% WC loss cost decrease

Vt.: DFR approves NCCI 2022 4.9% WC loss cost decrease

by Dan Corbin, CPCU, CIC, LUTC | Jan 31, 2022 | Technical

The Vermont Department of Financial Regulation approved the original workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 4.9% decrease. In addition, a decrease of 5.6% of the overall...

NCCI 2023 WC loss cost decrease of 3% approved in Connecticut

Conn.: NCCI 2022 WC loss cost decrease of 14.1% approved

by Dan Corbin, CPCU, CIC, LUTC | Dec 20, 2021 | Technical

The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 14.1% decrease. The CID also approved an overall assigned risk rate decrease of 8.2%....

N.J.: 2022 WC overall rate level decreases 5.3%

N.J.: 2022 WC overall rate level decreases 5.3%

by Dan Corbin, CPCU, CIC, LUTC | Nov 23, 2021 | Technical

The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -5.3% to go into effect Jan. 1, 2022. The revision is applicable to new and renewal policies. The NJCRIB distributed Circular...

NHID approves NCCI 2023 WC loss cost decrease of 7%

NCCI 2022 WC loss cost decrease approved in New Hampshire

by Dan Corbin, CPCU, CIC, LUTC | Nov 10, 2021 | Technical

The New Hampshire Insurance Department approved the original workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 8% decrease. Additionally, a decrease of 10.4% of the overall assigned risk...

Revised WC loss costs take effect Oct. 1, 2021

Revised WC loss costs take effect Oct. 1, 2021

by Dan Corbin, CPCU, CIC, LUTC | Aug 5, 2021 | Technical

In May, an application for an overall loss cost decrease of 6.4% was submitted to the New York State Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as requested with an effective date of Friday,...

NYSIF updates discount programs, adds a new endorsement and appoints new underwriting director

NYSIF updates discount programs, adds a new endorsement and appoints new underwriting director

by Bradford J. Lachut, Esq. | Jul 28, 2021 | Technical

Recently, PIANY received an update from the New York State Insurance Fund, which details modifications to the Safety Group Enhanced Discount and Preferred Risk Business Discount; the addition of a new endorsement for employees telecommuting from a location outside of...

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