Work comp rates to increase in 2014
Written by Sterling Agency Insurance Services on Oct 21, 2013
The Workers' Compensation Insurance Rating Bureau's actuarial committee just completed its deliberations and concluded that 2014 pure premium rates should increase 9.5% over the currently approved rates rather than the 7.6% called for in its initial filing. The increase is due to the new physician fee schedule the Division of Workers' Compensation is rolling out for 2014 as mandated by SB 863.