A public hearing on proposed revisions of voluntary loss costs and rating values and assigned risk rates and rating values for workers compensation insurance as filed and requested by the National Council on Compensation Insurance, Inc. [“NCCI”], on behalf of insurance companies eligible to reference NCCI’s information for new and renewal business, with a proposed effective date of March 1, 2023, will commence at 10:00 a.m. Central Time on Thursday, November 10, 2022, before the Acting Commissioner of Insurance or his designee in the 5th floor main conference room of the Alabama Department of Insurance, RSA Tower Suite 502, 201 Monroe Street, Montgomery, Alabama.
Representatives of NCCI may appear by video-screen from offices outside of Alabama. Attendance by members of the public in the 5th floor main conference room of the Department of Insurance will be permitted. There will not be public access by video-feed or link.
The filing proposes an overall average decrease of 10.2% to the current voluntary loss cost level and an overall average decrease of 10.2% to the current assigned risk rate level.
Any persons so desiring may submit a written statement in favor of or against the proposed rating levels. Written statements may be directed to the Department’s counsel identified below. Written statements must be received by the close of business on Thursday, November 3, 2022. Because the filing has not yet been approved and contains actuarial, trade secret or proprietary information, most of the filing is not considered a public record and will not be released in advance of the hearing. Limited release will be made upon proper request.
NCCI is advised that the hearing will be transcribed by a court reporter and that the NCCI is responsible for reimbursing the Department of Insurance for the reporter’s appearance fee and cost of preparing the transcript, including reproduction of exhibits.