loss costs News

How Parametric Cover Complements Traditional Insurance, Streamlines Claims

Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout after a qualifying event and protect against unpredictable but …

Colorado DOI Approves Nearly 13% Reduction in Workers’ Comp Loss Costs

Colorado businesses will see a large reduction in “loss costs” associated with workers’ compensation premiums in 2018, according to the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA). The department recently approved a large reduction …

Missouri Workers’ Comp Costs Could Fall

Missouri businesses could see a decline in their workers’ compensation insurance premiums next year. The state insurance department says a new report by the National Council on Compensation Insurance indicates that insurers are likely to see a 3.7 percent drop …

Workers’ Compensation Costs Continue to Drop in West Virginia

West Virginia employers would continue to benefit from lower workers’ compensation rates if the state agrees with an industry filing that loss costs be cut by 8.1 percent. Since the state privatized its workers’ compensation system in 2006, after operating …