Filed Under:Markets, Workers Compensation

Opinion: A Year of Opportunity for Agents

Big Changes in Workers' Comp

It seems that 2012 is starting out as a year filled with opportunity for agents in the workers’ compensation world. With the two largest rating bureaus making big changes, agents’ chances to outsmart, rather than outprice the competition have never been better.

In November 2011, the Workers’ Compensation Rating Bureau of California (WCIRB) announced a major revision to the California experience rating form. Gone are the “B” and “W” values that have been part of the calculation. Primary and excess credibility factors replaced them.

In 2014, it will increase to $13,500 and in 2015, NCCI estimates it will increase to $15,000. It is important to note that $15,000 is an estimate. Beginning in 2015, NCCI will index the split point based on the average cost per claim across the states for which they provide rate making services.

The Real Impact

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