Arizona workers' compensation insurance rates on average will increase 7.9 percent on Oct. 1 under recommendations from the National Council on Compensation Insurance.
The rates that were deemed acceptable Tuesday by the state insurance department reflect the increase in benefits that goes into effect Jan. 1, 2009, said NCCI State Relations Executive Dennis Kokulak. At that point the maximum monthly benefit increases from $3,000 to $3,600 per month.
Boca Raton, Fla.-based NCCI is the state's statistical agent and rating organization, and unless the department does not deem them acceptable, its rate recommendations become effective, Mr. Kokulak said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
