New Hampshire announces comp rate reduction

The New Hampshire Insurance Department on Wednesday said it has approved a workers compensation rate reduction for the eighth consecutive year.

The approved rate filing will lower loss costs by 9.6% and is based on a rate proposal filed by Boca Raton, Florida-based National Council on Compensation Insurance Inc. The loss cost reduction will apply to policies effective Jan. 1, 2020, according to a statement.

All insurers writing voluntary workers compensation in New Hampshire are required to use the new loss costs, said the department.