Texas OKs NCCI’s Workers’ Comp Loss Cost Filing Effective July 1 April 6, 2021
The National Council on Compensation Insurance’s (NCCI’s) advisory loss cost filing for Texas with an effective date of July 1, 2021, has been accepted by state insurance regulators.
The Texas Department of Insurance reported that for all workers’ compensation policies written with an effective date on or after July 1, 2021, insurers should use one of the following rate bases:
their own independent insurer-specific classification relativities or
NCCI loss costs effective July 1, 2021.
For policies with an effective date on or after July 1, 2021, insurers should not base their rates on the NCCI loss costs from July 1, 2020, or any prior year’s loss costs or relativities.