X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A higher incidence of claims combined with a new law will likely cause a double-digit rise in Missouri’s workers’ compensation rates next year, a new report suggests.

The National Council on Compensation Insurance (NCCI) says that, in addition to a 7.6-percentage increase in claims costs, rates will be impacted by a new law that shifts some type of injury claims from a “Second Injury Fund” to the main fund. NCCI estimates that the law will raise annual costs an additional 3 percent. Moreover, the new law allows state officials to impose an additional 3-percent surcharge on workers’ comp premiums in 2014 to help replenish the Second Injury Fund.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.