Indiana: Rating Bureau Recommends Workers' Comp Overall Increase

In its Sept. 24 advisory rate filing to the Indiana Department of Insurance, the Indiana Compensation Rating Bureau recommended an overall premium level increase effective Jan. 1, 2008. For filing purposes, the ICRB proposed:

a decrease of 0.2 percent to the loss costs
an increase of 0.4 percent in overall premium level
an increase of 0.4 percent in overall rate level

The ICRB noted this overall premium level increase follows last year’s decrease of 3.1 percent. Under Indiana’s statute, the ICRB is a private non-profit, unincorporated rating association of all insurance companies licensed to write workers' compensation insurance in Indiana.

Direct questions to NAMIC State Affairs Manager Tami Stanton.

Posted: Tuesday, October 09, 2007 12:00:00 AM. Modified: Tuesday, October 09, 2007 9:52:34 AM.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.