7.9% loss-cost decrease proposed for West Virginia

The National Council on Compensation Insurance filed a proposed workers compensation loss-cost decrease of 7.9%, effective Nov. 1, the West Virginia Offices of the Insurance Commissioner announced.  

The proposed reduction would result in about $15 million in savings for West Virginia employers, the agency said. The latest filing represents the 17th consecutive loss-cost decrease and accounts for a cumulative 79.9% reduction from pre-reform workers compensation levels.  

At the same time, a proposed 9.8% rate decrease for the assigned risk market was also filed.  

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