Workers' Compensation [26 Pa.B. 5201] The Insurance Department reminds the insurance industry that the new provisions enacted under Act 57 of 1996 include many cost savings features that will reduce premiums on Workers' Compensation policies.
For example, employers who do not qualify for experience rating must be granted a 5% discount when they have not incurred a compensable employe lost-time injury during the most recent 2-year renewal period. Also, the 5% discount for ''certified safety committees'' may be extended for an additional 4 years.
Additionally, Act 57 now allows schedule rating plans to be used. These plans are subject to the Insurance Commissioner's approval prior to use.
These provisions took effect August 23, 1996. The Insurance Department encourages the insurance industry to pass along these savings features. It is essential that the new provisions provided under Act 57 are fully implemented in order for Pennsylvanians to realize the maximum savings under the act as soon as possible.
Questions may be directed to Stephen Kcenich, Insurance Department, Office of Rate and Policy Regulation, Bureau of Property and Casualty Insurance, Actuarial Review Division, 1311 Strawberry Square, Harrisburg, PA 17120, at (717) 783-0693.
LINDA S. KAISER,
Insurance Commissioner[Pa.B. Doc. No. 96-1820. Filed for public inspection October 25, 1996, 9:00 a.m.]
