Today’s issue of WorkCompRecap features a new report recently released by the National Council on Compensation Insurance (NCCI) on excess loss development in workers compensation insurance. NCCI looked at excess loss development in relation to: Large deductible policies, State lump-sum settlement rules, and State ELFs (excess loss factors) at a $1 million limit.
Key Findings from the report include that through 26 years of development, Claims over $5 million were more likely to develop down than up, and in contrast, claims of about $1 million to $2 million were more likely to develop up than down. Also of note is the fact that no clear and credible differences in development were observed between the states relative to their ELFs at a $1 million limit.
Find out more (including a link to the free report!) by clicking here!