The National Council on Compensation Insurance recently submitted its annual rate recommendation.
NCCI’s recommendation is based on claims volume, claims utilization, workforce, and wages, as well as any changes in rules or legislation.
After review and discussion of the recommendation, the Idaho Department of Insurance accepted a 7% reduction in rates, effective Jan. 1, 2022.
Workers’ comp insurers can now either adopt the NCCI rates without modification or propose to the department’s review an adjustment from NCCI’s rates.
A portion of the reduction is due to the department’s proposed elimination of certain rating factors in the last legislative session. The Idaho Legislature approved the changes.
NCCI annually collects information about the workers’ compensation system and submits proposed rates to the Department of Insurance for review and approval.
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