N.H. Insurers Seek 2.5% Comp Rate Hike

Workers’ compensation writers in New Hampshire want an average 2.5 percent hike for voluntary market advisory loss costs and a 12.7 percent average increase for residual market premiums, according to the most recent filing from the National Council on Compensation Insurance (NCCI).

The NCCI filing for 2005 also requests an increase in the minimum premium multiplier from 185 to 195 and a jump in the rate differential for the residual market from 18 percent to 25 percent.

New Hampshire Insurance Commissioner Roger Sevigny has set Oct. 15 as the hearing date on the filing.

For 2004, Sevigny approved a .5 pecent increase in advisory loss costs for voluntary risks.