Workers' Compensation Advisory Loss Costs and Rating Values NCCI Filing Effective January 1, 2017

THE STATE ·OF NEW HAMPSHIRE INSURANCE DEPARTMENT 21 SOUTH FRUIT STREET SUITE 14 CONCORD, NEW HAMPSHIRE 03301 Roger A . Sevigny Commissioner Alexander K. Feldvebel Deputy Commissioner BULLETIN Docket No: INS No. 16-026-AB Date: October 14, 2016 To: All Workers' Compensation Insurers From: Roger A. Sevigny - Insurance Commissioner Re: Workers' Compensation Advisory Loss Costs and Rating Values NCCI Filing Effective January 1, 2017 Filing Reference Number: NH-2016-03 The State of New Hampshire Insurance Department has approved the National Council on Compensation Insurance's Advisory Loss Cost and Rating Values filing to be effective January 1, 2017. The approved voluntary loss cost change is a decrease of 9.0% on average. The average approved change for Assigned Risk rates is a decrease of 9.4%. The residual market loss cost multiplier for 2016 will be 1.499. NH RSA 412:30 requires that any insured receiving a premium quote higher than would be derived from the Assigned Risk Rating Plan should be notified that coverage could be obtained at a lower premium in the Assigned Risk plan. Insurers currently using a loss cost multiplier higher than 1.499 should take note. Insurers should continue to refer to a previous Bulletin (Docket No. INS No. 11-018-AB, issued September 22, 2011) for additional information on incorporating the cost of the NH WC Administration Fund Assessment into their rates for voluntary coverage. In line with our July 1, 1995 directive, all insurers writing Workers' Compensation coverage in the State of New Hampshire are required to adopt and use NCCl's WC Advisory Loss Cost and Rating Values effective January 1, 2017. No filings are necessary unless the insurer wants to change its loss cost multiplier for 2017. Approval of any such filing will be contingent upon the submission of appropriate justification along with a completed Form RFF-1. Prospective Loss Costs Reference Filing Adoption Form. Please refer to the revised version of RFF-1 on SERFF. Any filings received during January 2017 may be retroactively applied to reflect an effective date of January 1, 2017. Questions on this bulletin may be addressed to Ruju Dave at (603) 271-2261 or ruju.dave@ins.nh.gov. TELEPHONE 603-271-2261 • FAX 603-271-1406 • TDD ACCESS RELAY NH l-800-735-2964 WEBSITE: www.nh.gov/insurance