The Office of Superintendent of Insurance (OSI) has recently approved a rate proposal submitted by the National Council on Compensation Insurance (NCCI) that will reduce voluntary workers’ compensation loss costs by an average of 10.7 percent, to become effective for policies renewing on or after January 1, 2023. This marks the eighth consecutive year in which OSI approves a loss cost decrease for workers’ compensation.

OSI APPROVES DECREASE IN WORKERS’ COMPENSATION LOSS COSTS