November 26, 2008
COLUMBIA, S.C. (AP) -- South Carolina businesses may see a break
on workers' compensation rates next year.
The National Council on Compensation Insurance told state
regulators this week that a key element in setting rates should be
reduced by 0.3 percent. The council's filing on loss statistics
with the South Carolina Department of Insurance is a key element in
insurer rate filings.
Amy Quinn is NCCI's representative in South Carolina and said
Wednesday the lower losses show a decrease in how often people are injured at work, which offsets medical cost increases.
The last NCCI loss cost reduction was 10.4 percent in 2001. NCCI
wanted a nearly 24 percent increase last year, but that increase
was cut to just under 10 percent before it went into effect in
(Copyright 2008 by The Associated Press. All Rights Reserved.)