New Hampshire Approves Workers’ Comp Loss Cost Decrease of 5.9%

The New Hampshire Insurance Department announced that it has approved the National Council on Compensation Insurance’s advisory loss cost and rating values filling to be effective Jan. 1, 2016.

The approved voluntary loss cost change is a decrease of 5.9 percent on average, and the average approved change for assigned risk rates is a decrease of 10.9 percent, according to the Insurance Department’s Oct. 20 bulletin. The residual market loss cost multiplier for 2016 will be 1.505.

All insurers writing workers’ compensation coverage on New Hampshire are required to adopt and use NCCI’s worers’ compensation advisory loss cost and rating values effective Jan. 1, 2016.

Source: The New Hampshire Insurance Department