Indiana OKs 7.7% decrease in workers compensation loss cost rates | Business Insurance

Is your PEO looking to expand into additional states?  Keep in mind that although rates will decrease in January 2014, understand that every class code performs differently in every state.  We have the ability to drill down to the class code level in any state to forecast the expected loss ratio before you place your client company on your master policy... The Indiana Department of Insurance has approved a 7.7% decrease in workers' compensation loss cost rates for 2014. Requested in September, the new rate takes effect Jan. 1. An analysis by the National Council on Compensation Insurance showed that Indiana workers' comp claim frequency and indemnity costs have decreased in recent years. House Bill 1320, a workers' compensation reform bill passed by Indiana legislators in April, is also expected to decrease Indiana workers' comp system costs by another 3.7%, according to NCCI.

Indiana OKs 7.7% decrease in workers compensation loss cost rates | Business Insurance.

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The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better. All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

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