Virginia regulators plan to hold a hearing on proposed adjustments in premiums charged for workers compensation insurance in October.
According to The Associated Press, the State Corporation Commission stated it has set an Oct. 26 hearing in Richmond on request from the National Council on Compensation Insurance Inc. (WCxKit)
The Florida-based ratemaking group represents insurers licensed to write workers comp insurance in Virginia. Nearly all Virginia employers are required to carry the coverage.
Changes in the overall premium level for the industrial, federal, surface coalmine and underground coalmine classifications will be under review by the group. (WCxKit)
If approved, the adjustments (effective April 1, 2011) would apply for both the voluntary market and assigned risk plan.
Author Robert Elliott, executive vice president, Amaxx Risks Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers’ Compensation costs, including airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. Contact: Info@ReduceYourWorkersComp.com or 860-553-6604.
TD Calculator: http://www.LowerWC.com/transitional-duty-cost-calculator.php
Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers' comp issues.
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