Pennsylvania Compensation Rating Bureau; Filing for Rate and Rule Manual Revisions [46 Pa.B. 5794]
[Saturday, September 3, 2016]On August 5, 2016, the Insurance Department (Department) received from the Pennsylvania Compensation Rating Bureau (Bureau) a filing that proposes revisions to the Bureau's underwriting guide for classifications 971—Commercial Buildings and 880—Apartment House or Condominium Complex Operation with an end goal of including homeowner association and mobile home park employers in classification 880 instead of classification 971.
As employers moved from classification 971 to 880 would see their loss cost increase by 60.07% (per the classifications' current rating values), the Bureau proposes to create an interim classification, 888—Homeowners' Association until the rating values for classification 880 and 888 are sufficiently similar so that the two classifications can be consolidated (by means of a future filing submitted to the Department for its prior approval).
A specific loss cost for interim classification 888 is not proposed at this time; instead the Bureau intends to file this loss cost as part of its annual loss cost filing for all classifications effective April 1, 2017.
The 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 James Di Santo, Insurance Department, Insurance Product Regulation, 1311 Strawberry Square, Harrisburg, PA 17120, jadisanto@pa.gov within 30 days after publication of this notice in the Pennsylvania Bulletin.
TERESA D. MILLER,
Insurance Commissioner[Pa.B. Doc. No. 16-1538. Filed for public inspection September 2, 2016, 9:00 a.m.]
