Changes in the Works for WC Experience Rating Plan; Rescinding a Policy for Unintentional Error in Application; and Reports from the Real World
There’s a big change coming in how workers’ compensation experience modifications are calculated. NCCI (National Council on Compensation Insurance) actuaries have recommended increasing the $5,000 primary/excess split point to $15,000. For example, at present a $50,000 claim would be result in a $5,000 primary loss and a $45,000 excess loss. Under the proposed change, $15,000 […]