DISB approves new Annual Workers Compensation Rates

NCCI received approval for its filing of workers comp loss cost and rates effective November 1, 2006 for new and renewal policies. This filing proposes an overall pure premium level decrease of 7.9% for the voluntary market and an overall rate level decrease of 5.8% for the residual market. The following gives a breakdown of the overall indication for the voluntary market: Change in experience and trend: 8.5%; Change in Benefits (increase in Maximum benefits): +0.2%; Change in Loss Adjustment Expense: 0.4%; Overall indication: -7.9%. Circulars are posted at NCCI’s website (www.ncci.com).