NCCI Files 9.2 Percent Rate Reduction for Workers’ Compensation
August 16, 2018
The National Council on Compensation Insurance (NCCI) is proposing that Iowa’s overall voluntary and assigned risk rate for workers’ compensation be reduced by 9.2 percent. This recommendation, which must be approved by the Iowa Insurance Division, would be effective January 1, 2019. You can read the filing here, which is based on premium and loss experience for policy years 2015 and 2016. If approval were granted, this would be the third straight year that Iowa would see rates downsized. (They were reduced by 3.9 percent in 2017 and 8.7 percent in 2018, respectively).