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West Virginia Rates Reduced For 12th Time – NCCI

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West Virginia Rates Are Falling Again

The West Virginia rates for Workers Compensation have received another reduction recommendation by NCCI.   West Virginia is one of states that decided to covert from a State Fund to an open market for Workers Comp insurance.

Map Of West Virginia Rates Colorful
Wikipedia – Jm0371

NCCI has recommended a rate reduction for the ten years since Brickstreet became the proprietary carrier in 2006.  The recent rate reduction is 14%.   This is a very large reduction considering the state has experienced so many rate reductions over the last ten years.

The West Virginia rates were actually synthesized at the beginning of the privatization in 2006.  NCCI used an actuarial extrapolation of rates from the surrounding similar states to procure a rate structure of sorts.    Brickstreet was the original monopolistic carrier after conversion of the Old Fund.

The only drawback to many consecutive rate reductions is the pendulum can swing too far to the reduction side and possibly incur a sharp offsetting rate increase.

Hand Illustrating West Virginia Rates Increase

The reduction was the 12th year in a row.  That is an amazing feat.

One has to think the rates must have been very high in West Virgnia’s Old Fund.   However, that is an “apples to oranges” comparison as the Fund had a very different Class Code scheme than the applicable NCCI Class Codes.

The total saved by West Virginia employers is over $352 million according to the state’s Governor.

West Virginia can be used as a model for success if any of the remaining monopolistic states try to convert to a private system.   I had thought neighboring Ohio would have converted from the BWC by now.

The remaining monopolistic states are Ohio, North Dakota, Washington, and Wyoming.   One has to wonder which will be the next to privatize and save their employer premiums as with the West Virginia rates.

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Table of Contents


James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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