The Virginia State Corporation Commission will consider a request to raise workers’ compensation premiums at a meeting in October.
The National Council on Compensation Insurance Inc. (NCCI), a rate service organization that represents insurers, requested the meeting.
NCCI is proposing an increase in the overall premium level for the industrial, federal, surface coal mine and underground coal mine classifications in both the voluntary market and assigned risk plan.
The largest increases would be in surface coal mining, where rates would rise 17.6 percent for the voluntary market and 18.1 percent for assigned risks.
The proposed changes would become effective in April.
Was this article valuable?
Here are more articles you may enjoy.
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Nationwide: Consumers Say Insurance Should Evolve for Micromobility Vehicles 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
