Workers Compensation Rating Change Is Here – Were You Prepared?
In January of this year the National Council on Compensation Insurance (NCCI) changed the methodology of determining an individual employer’s experience modification factor. In a blog published in July of last year, we warned our Clients and Friends of the Firm about the upcoming change and significant impact it may have on their workers’ compensation premiums. In the same blog we explained how a company’s loss history will impact premiums for at least three (3) years after losses occur.