Pennsylvania Compensation Rating Bureau; Workers' Compensation Loss Cost Filing [43 Pa.B. 7519]
[Saturday, December 21, 2013]On December 10, 2013, the Insurance Department received from the Pennsylvania Compensation Rating Bureau (Bureau) a filing for a loss cost level change for Workers' Compensation insurance. This filing is made in accordance with section 705 of the act of July 2, 1993 (P. L. 190, No. 44).
The filing proposes an April 1, 2014, effective date for both new and renewal business and includes the following revisions:
* An overall 5.15% decrease in collectible loss costs.
* An Employer Assessment Factor of 1.95%, as compared to the currently approved provision of 2.62%.
* Updates to a variety of other rating values to reflect the most recent available experience.
* Changes to manual rules, including changes to classification procedures found in section 2 of the manual, which may impact the loss costs for certain employers.
* Procedures for establishing payroll for Sole Proprietors, Partners in a Partnership and Members of Limited Liability Corporations when specific payroll documentation is unavailable.
The entire April 1, 2014, loss cost filing is available for review on the Bureau's web site at www.pcrb.com in the ''Filings'' section.
Interested parties are invited to submit written comments, suggestions or objections to Eric Zhou, Insurance Department, Insurance Product Regulation, 1311 Strawberry Square, Harrisburg, PA 17120, gzhou@pa.gov within 30 days after publication of this notice in the Pennsylvania Bulletin.
MICHAEL F. CONSEDINE,
Insurance Commissioner[Pa.B. Doc. No. 13-2401. Filed for public inspection December 20, 2013, 9:00 a.m.]
