On Sep. 16, COL INS issued notice of hearing on 2025 loss costs filing.
COL INS issued notice of hearing for 2025 NCCI loss cost filing, set for Oct. 1, 2024.
Placed the Colorado advisory loss costs and Rating values filing submitted by the National Council on Compensation Insurance (NCCI) on file for public inspection.
Overview of Filing
The filing shall remain on file for 15 days and shall not be actioned on except after a public hearing; the filing has a proposed effective date of Jan. 1, 2025.
Overall proposed average change in advisory loss costs for voluntary market is -4.3%.
Hearing Date
The public hearing will be held on Oct. 1, 2024.
Oct. 2024 COL INS Approval
On Oct. 28, 2024, COL INS reported approval of a reduction of 4.3% for the average loss costs component of workers’ compensation insurance premiums for 2025.
Statewide average loss costs have been decreasing for years; average overall annual decreases resulted in 53.5% cumulative average decrease over the last 11 years.
Regulators
COL INS
Entity Types
Ins
Reference
PR, 10/28/2024; Dec O-25-004, 10/21/2024; Nt, 9/16/2024
