The West Virginia Offices of the Insurance Commissioner recently approved new advisory loss cost rates proposed by the National Council on Compensation Insurance (NCCI), effective July 1.

The overall impact of the new rates, which apply to all workers' compensation carriers, is a 3.3 percent decrease. The largest increase in loss cost rate is 24 percent; the largest decrease, 26 percent.

Of West Virginia's 586 NCCI employer classifications, 24 have no change in loss cost rate, while 254 have increases and 308 have decreases.

BrickStreet will mail endorsements to policyholders in the coming weeks to reflect mid-term changes in premium stemming from the new NCCI loss costs and possible changes in experience modifiers.

Watch for additional details in upcoming issues of BrickStreet InSights.