Maryland Backs Comp Loss Costs Change

The National Council on Compensation Insurance (NCCI) reports that Maryland's Insurance Administration gave the go-ahead to a request to decrease by 5.4% the voluntary market workers’ compensation loss costs in Maryland. The change will be in effect starting Jan. 1, 2009.

The decrease applies to all insurers writing workers’ comp policies in Maryland except group self-insurance funds and IWIF, the Towson, Md.-based insurer that writes about 25% of the state’s business, according to NCCI officials.

The NCCI request came on the heels of new data that found claim frequency for workers' comp injuries continued to drop in 2007. However, the size of the decrease is much less than in the previous two years.