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PA Bulletin, Doc. No. 18-1840

NOTICES

INSURANCE DEPARTMENT

Pennsylvania Compensation Rating Bureau; Workers' Compensation Loss Cost Filings

[48 Pa.B. 7356]
[Saturday, November 24, 2018]

 On November 13, 2018, the Insurance Department received from the Pennsylvania Compensation Rating Bureau (Bureau) two filings for loss cost level changes for workers' compensation insurance. The filings were made in accordance with section 705 of the Workers' Compensation Act (77 P.S. § 1035.5).

 The first filing, Bureau's Filing No. C-372, proposes an overall 10.02% decrease in collectible loss costs effective January 1, 2019, for both new and renewal business. The Bureau states that this filing is being made in response to the Bureau's determination that financial data reported by a Bureau member and used in the development of Filing No. C-370 (which was approved effective April 1, 2018) were incorrect. The Bureau states that the member's reported losses were, mistakenly, materially overstated, necessitating the preparation of Bureau Filing No. C-372.

 The second filing, Bureau's Filing No. C-373, proposes an overall 5.24% decrease in collectible loss costs effective January 1, 2019, for both new and renewal business. The Bureau states that the 5.24% decrease is based on the savings achieved through the enactment of HB 1840 which was signed into law as Act 111 of 2018 on October 24, 2018.

 Combined, the two filings propose an overall 14.74% decrease in collectible loss costs effective January 1, 2019.

 The filings are 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, Office of Insurance Product Regulation, 1311 Strawberry Square, Harrisburg, PA 17120, gzhou@pa.gov, within 15 days after publication of this notice in the Pennsylvania Bulletin.

JESSICA K. ALTMAN, 
Insurance Commissioner

[Pa.B. Doc. No. 18-1840. Filed for public inspection November 21, 2018, 9:00 a.m.]


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