Raleigh, NC – Insurance Commissioner Wayne Goodwin recently announced that the Department of Insurance has completed its review of workers compensation rate filings from the North Carolina Rate Bureau, the organization that represents the state’s workers compensation insurance companies.
The rates have been approved as filed and will go into effect April 1, 2015. There will be a 3.4 percent average decrease to loss costs for the voluntary market. There will be an average 4.5 percent decrease in residual market rates.
The full filings and settlements are available for public review on the NCDOI website. Visit http://www.ncdoi.com/PC/PC_Filing_Search.aspx and search for Serff Tracking numbers NCRI-129728928 and NCRI-129728930.
The Rate Bureau is required to submit workers compensation rate filings annually in September. In 2013, a 4.2 percent increase to the voluntary market loss costs and a .3 percent increase to the residual market rates were approved.