| Filing Provision
|
Prior Approval
|
| Company Reference
|
LA-LC-2019-01
|
| DOI Filing Number
|
763153
|
| SERFF Tracking Number |
NCCI-132118317
|
| LA Product Code
|
|
| Overall % Impact
|
Requested: -8.40
Final: -8.4
|
| Overall $ Impact
|
|
| # of Policy Holders
|
|
| Item Type
|
|
| Final Action
|
|
| Date Status
|
|
| Brief Description
|
Workers CompensationLouisiana Advisory Loss Costs and Rating Values Filing Number LA-LC-2019-01
|
| Detailed Description
|
The last rate adjustment for the above-captioned Rating Organization was an overall negative 5.60% rate decrease filed and approved under "Prior Approval" provision Item Key Number 720053, effective 05/01/2019.
With this filing, the Rating Organization submits its LA-LC-2019-01 advisory prospective loss costs and rating values for the Louisiana voluntary market to be effective 05/01/2020.
The last rate adjustment for this Rating Organization was an overall +0.40% rate increase filed and approved under the "Prior Approval" provision, Item Key Number 687014 effective 05/01/2018.
With this filing, the Rating Organization, NCCI is submitting its LA-LC-2018-01 advisory prospective loss costs and rating values for the Louisiana Voluntary market to be effective May 1, 2019.
Please note the following in connection with this filing:
As a result of Item B-1397, effective July 1, 2007, a single combined loss cost is still calculated for Class Codes 7710 and 7711 via a payroll-weighted average of the separately indicated loss costs for these two Class Codes.
As a result of Item B-1435, effective May 1, 2018:
Class Codes 4750 and 4829 are combined to reflect the second year of a three-year transition program. In the third year of the transition, Class Code 4750 will be discontinued.
As a resulted of Item B-1436, effective May 1, 2019:
Class Codes 8825 and 8826 are combined to reflect the first year of a two-year transition program. In the second year of transition, Class Code 8825 will be discontinued.
Class Code 8829 is discontinued and the loss cost for Class Codes 8824 is payroll-weighted to reflect the combined experience of Class Codes 8824 and 8829.
As a result of Item B-1437, effective May 1, 2020:
Class Codes 2286 and 2220 are combined to reflect the first year of a two-year transition program. In the second year of the transition, Class Code 2286 will be discontinued.
Class Codes 2670 and 2688 are combined to reflect the first year of a two-year transition program. In the second year of transition, Class Code 2670 will be discontinued.
Class Code 4360 is discontinued and the loss cost for Class Code 7610 is payroll-weighted to reflect the combined experience of Class Codes 4360 and 7610.
Class Code 4670 is discontinued and the loss cost for Class Code 4683 is payroll-weighted to reflect the combined experience of Class Codes 4670 and 4683.
Class Code 5508 is discontinued and the loss cost for Class Code 5507 is payroll-weighted to reflect the combined experience of Class Code 5508 and 5507.
As a result of Item R-1417, the retrospective rating plan parameters were updated.
As a result of Item 01-LA-2014, effective May 1, 2015, the payroll limitation for the Stevedoring class codes is eliminated. Therefore, multiple Expected Loss Rates are reflected for these class codes.
|
| Line of Business
|
|
| Renewal Effective Date
|
|
| New Business Effective Date
|
|
| Comments:
|
|
| Companies
|
|