Pennsylvania OKs Average Workers’ Comp Loss Cost Decrease of 0.9%

The Pennsylvania Compensation Rating Bureau (PCRB) said the Pennsylvania Insurance Department has approved PCRB’s filing which calls for an overall average workers’ compensation loss cost decrease of 0.90 percent from existing loss costs.

Pennsylvania Insurance Commissioner Teresa Miller approved PCRB’s loss cost filing (No. C-366) on Feb. 4. PCRB submitted its filing to the Pennsylvania Insurance Department on Dec. 8, 2015.

The approved revised loss costs and related rating values will become effective on a new and renewal basis as of April 1.

PCRB has released on its website a complete table of approved loss costs and expected loss factors. Manual revisions reflecting approval of the PCRB filing with respect to rating values effective April 1 will be updated on PCRB’s website.