The North Carolina Rate Bureau Has No Records At NCCI Now
The North Carolina Rate Bureau changed their relationship with NCCI. I received a call in the early part of March from NCCI. NCCI said they owed me a refund. I asked why? NCCI informed me that nothing can now be looked up on NCCI for the State of North Carolina. I even questioned the caller from NCCI about the old records. She told me ALL records.
Please remember as you read this article that NCCI and the NCRB both helped me a great deal with research and answered my probably annoying questions since the 1990’s. The two Rate Bureaus treated me with respect in every transaction.
I was shocked. Searching the NCCI databases for NCRB information made it a convenient task. One wonders why the abrupt split occurred between the rating bureaus.
The North Carolina Rate Bureau (NCRB) changed a large number of rules last month. The incoming new North Carolina Insurance Commissioner made the NCRB reform one of his top priorities. This must be part of that reform.
I am still researching the Classification Code changes that were instituted by the NCRB. At one time earlier this year, the class codes differed greatly. The research on class code differences takes a long time now that they are in two different places.
California’s rating bureau, the WCIRB became more like the NCCI over the last few years. However, the WCIRB retained their independence. The recent changes to the X-Mod formula by the WCIRB copied nothing from NCCI.
The E-Mod formula for NCCI changed very little this year. The NCRB formula mirrors the NCCI for the most part. I will update this article or write a new one when the North Carolina Rate Bureau institutes further changes.
Article provided by James J Moore, AIC, MBA, ChFC, ARM. All articles are original content. Check out the full website at www.cutcompcosts.com