Concord, NH – The New Hampshire Insurance Department (NHID) recently announced that it has approved a filing by the National Council on Compensation Insurance (NCCI) reducing voluntary workers’ compensation loss costs by an average of 2.9 percent for 2027. Assigned risk rates will also decrease by an average of 3.4 percent.
The approval marks the 15th consecutive year of declining voluntary workers’ compensation loss costs in New Hampshire, continuing a long-term trend that has helped reduce a significant cost of doing business while maintaining protections for workers injured on the job.
“Fifteen consecutive years of reductions is a significant milestone and reflects the continued strength of New Hampshire’s workers’ compensation market,” said New Hampshire Insurance Commissioner D.J. Bettencourt. “Lower loss costs help Granite State businesses control expenses, remain competitive, and invest in their employees and operations, while maintaining a system that provides injured workers with the care and support they need. It is a good example of what a healthy insurance market should accomplish: competition, disciplined risk management, and workplace safety working together to lower costs without compromising protection for injured workers.”
Since the beginning of this 15-year trend, voluntary workers’ compensation loss costs in New Hampshire have declined by approximately 68 percent.
Loss costs represent the portion of workers’ compensation rates associated with the expected cost of claims for work-related injuries. They are an important component of the rates ultimately charged to employers but do not represent the entirety of an employer’s premium.
Insurers writing voluntary workers’ compensation coverage in New Hampshire will incorporate the approved loss costs into their rate development, together with company-specific expenses and other permitted rating factors. As a result, the actual premium impact for an individual employer may vary based on the insurer, employer characteristics, claims experience, classification, and other applicable rating factors.
“Sustained improvement over 15 years provides employers with greater predictability and demonstrates the value of maintaining a stable, competitive workers’ compensation market,” said Deputy Insurance Commissioner Keith Nyhan. “New Hampshire’s experience shows that protecting injured workers and maintaining an attractive environment for employers and insurers can reinforce one another.”
The NCCI is a licensed advisory organization and statistical agent that collects workers’ compensation data, analyzes industry trends, and prepares loss-cost and rate filings for New Hampshire and many other states. The newly approved loss costs and assigned risk rates will apply to policies effective on or after January 1, 2027.
Source: NHID