8.8% Reduction in Voluntary Advisory Rates Filed in Illinois

In response to the recent enactment of the Illinois workers’ compensation reform measure, House Bill 1698, workers’ compensation insurance database manager National Council on Compensation Insurance Inc. filed for an 8.8 percent decrease in voluntary advisory insurance rates in Illinois. According to the Illinois Workers’ Compensation Commission, upon approval by the Illinois Department of Insurance the lower rates will take effect Sept. 1, 2011.

The IWCC also noted that the Department of Insurance is establishing a process by which payers may gain approval to function as a Preferred Provider Program (PPP) in workers’ compensation. Approval as a PPO for health care is not the same as approval as a PPP for workers’ compensation.

Source: IWCC