Skip Ribbon Commands
Skip to main content
Home


Hot Topics

Quick news and other interesting items.

 
1. Approved Advisory Rate Filing Effective January 1, 2017 (posted 10/07/16)
The advisory rate filing consists of:
 
2. Indiana WC Outlook and Observations presentation (posted 11/15/16)
NCCI has updated its presentation (PDF file) in October 2016 which captures a lot of the information typically seen in its State Advisory Forums held in some NCCI states.
 
 
3. Second Injury Fund Assessment and Policy Surcharge (posted 01/14/15)
The WC Board of Indiana will assess carriers and self-insureds $7,863,857.in 2015. The statewide average policy surcharge factor is 0.0082. For more info, please see ICRB Circular 2015-01.
 
 
4. Terrorism Risk Insurance Program Reauthorization Act of 2015 (posted 01/14/15)
H.R. 26 was signed by President Obama on 01/12/15 to enact the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA of 2015). The ICRB will file Item Filing P-1412 with the Indiana DOI to update endorsements in the NCCI Forms Manual.

 

5. 78th Annual Report 2014 (completed 09/07/14, updated 10/31/14) 3.23MB

 

 
Archived Topics:
 
Approved Advisory Rate Filing Effective January 1, 2016
(IDOI "Filed” via SERFF on 11/05/2015 which completes the approval process) [posted 11/05/15]
The advisory rate filing consists of:
·        Overall Loss Cost Level Change 1.3%
·        Overall Premium Level Change 1.9%
 
Please open the PDF documents listed below for more information.
 
Approved Advisory Rate Filing Effective January 1, 2015;
IDOI "Filed” via SERFF on 10/08/2014 which completes the approval process; 
(posted 10/10/2014)
The proposed advisory rate filing contemplates a decrease of:
    • -3.8% to the loss costs;
    • -3.7% in overall rate level.
This overall rate level decrease follows last year’s decrease of -7.7%.
Please open the PDF documents listed below for more information.
 
Terrorism Risk Insurance Act (TRIA) Expires 12/31/14 (posted 12/20/14)
Congress adjourned in December 2014 without passing legislation that would have extended TRIA. For more information here are some links:
 
·        NCCI webpage titled "Terrorism Risk Insurance" posted 12/19/14information on TRIA's expiration on 12/31/14
·        Insurance Information Institute (III) issued a media release titled “Congressional Inaction on Renewal of Terrorism Risk Insurance Act Renewal May Cause U.S. Businesses to Lose Their Terrorism Coverage In 2015 posted 12/17/14
 
 
Senate Enrolled Act 294 (posted 04/16/14)
This bill is a follow-up to last year’s House Enrolled Act 1320. The bill, effective July 1, 2014, allows corporate officers to exempt themselves from WC coverage. For more information, please see ICRB Circular 2014-04.
 
INSafe Assessment (04/16/14)
The Indiana Department of Labor (“DOL”) is assessing all WC carriers for the special fund used for safety and health consultation. Payment is due May 1, 2014. For more information, please see ICRB Circular 2014-05.
 
 
ICRB Annual Report and NCCI Outlook and Observations (11/25/13)
Big facts. Few words. Easy on the eyes. Both the ICRB 77th Annual Report (updated 02/05/14) and the NCCI Indiana Outlook and Observations” report await your consumption.
 
House Enrolled Act 1320. House Enrolled Act 1320 (07/10/13)
HEA 1320 contains provisions effective both July 1, 2013 and July 1, 2014. Here’s a quick summary: 
  • Medical Fee Schedule - reimbursement at 200% of Medicare, effective July 1, 2014
  • Repackaged Drugs - prices limited to average wholesale price, effective July 1, 2013
  • Benefit increases phased in over 3 years
  • Legislative “interim study committee on insurance” will review additional reimbursement issues
  • Impact on WC system costs - between -2.3% (-$16 million) and -0.7% (-$5 million)
  • $2 per policy fee – paid by carriers and due by July 31, 2013
  • Short and long term policies now permitted
  • Bureau policy data is confidential
For additional information, please see ICRB Circulars on HEA 1320:
  • Circular 2013-04 – info on the $2 per policy fee, short and long term policies, and bureau policy data is confidential
  • Circular 2013-05 - info on the medical fee schedule, benefit increases, and the impact on WC system costs

Approved Advisory Rate Filing Effective January 1, 2014
(IDOI "Filed” via SERFF on 10/10/2013 which completes the approval process)

Click on the document titles below to view the PDF files:
Second Injury Fund Assessment and Policy Surcharge (01/08/13)
The WC Board of Indiana will assess carriers and self-insureds $6,386,488 in 2013. The statewide average policy surcharge factor is 0.0078. For more info, please see ICRB Circular 2013-01, dated January 7, 2013, titled "Second Injury Fund Assessment & Policy Surcharge Factor".
 
Indiana WC Outlook and Observations (10/18/12)
NCCI has updated its presentation (PDF file) from March 2012 which captures a lot of the information typically seen in its State Advisory Forums. This information compliments and expands upon the ICRB annual report.
 
Approved January 1, 2013 Advisory Rate Filing (09/26/2012)
On September 26, 2012 the Indiana Department of Insurance (IDOI) “FILED” the advisory rate filing which completes the approval process The filing contemplates an increase of:
•  4.3% to the loss costs;
•  5.0% in overall premium level, and;
•  5.0% in overall rate level.
 
Please open the PDF documents listed below for more information.
 
Change to Experience Rating Primary/Excess Split Point (5/7/2012)
For the past 20 years, the portion of losses under the Experience Rating Plan considered “primary” has been set at $5,000. All of the first $5,000 of a loss enters into the calculation.  The amount above $5,000, “excess” loss, is discounted by a weighting factor. During this time, the average cost of a claim has tripled. Beginning on all 2013 ratings, the amount considered primary will increase to $10,000.  In 2014 the split point changes to $13,500, and in 2015 it will become $15,000.  In general, both credits and debits will become larger.  Seventy-four percent will be within a range of -.05 to +.02.  
Additional information is included in our related Comp Clues document titled “Experience Rating: Split Point”.

 

Short and Long Term Policies (02/20/12)
Effective March 1, 2012, we created several Indiana state rule exceptions to the Basic Manual and the Policy Period Endorsement so that the rules are consistent with Indiana statute which does not permit short term policies. IC § 22-3-5-5(c)(6)) states that policy periods should be one or three years, or continuous.
 
We view the rule change merely as a technical clarification matter. For more information, please refer to Item Filing 01-IN-2012 and our CompClues document titled “Short Term Policy”.
 
 
Payroll Rule Change (01/11/12)
The advisory fixed payroll amount for sole proprietors, partners, and LLC members is eliminated effective 01/01/2012 for new and renewal policies. These business owners who elect to be covered will be treated the same as an executive officer for premium determination purposes and are subject to the same advisory maximum and minimum payroll limitations listed on the Miscellaneous Values Pages (updated annually). For more information, please refer to Circular 2011-07.
 
Also, the PIA and Big I magazines both featured articles (click here) on this topic in December 2011.

 

Preliminary 2013 Mods Released without Split Point Change (8/15/2012)
We have begun releasing Preliminary Experience Rating modifications for 2013. A preliminary modification uses existing rating values that are expected to change pending regulatory action on a rate filing. The preliminary mod must be applied until the final Experience Rating modification is determined.

Although the change to the primary/excess split point has been approved, changes to the underlying factors, i.e. “D” ratios, have not yet been approved as they will be included in our 1-1-2013 rate filing. Consequently, the split point change is not reflected in the preliminary modifications. This is noteworthy because the inclusion of this change may have a dramatic impact on the final mod for certain employers.

Additional information is included in our related Comp Clues document titled “Experience Rating: Split Point”.

 

Schroeder Earns WCP Designation (04/20/12)
Duane Schroeder, CPCU, WCP, ICRB Vice President, recently earned the designation of “Workers Compensation Professional” by the American Society of Workers Comp Professionals, Inc (AMCOMP).

The WCP designation signifies that an individual has completed a rigorous workers' compensation curriculum and successfully passed course examinations demonstrating a broad-based knowledge and understanding of workers' compensation.

As a WCP, Duane now joins other workers' comp professionals throughout the United States who have risen to the top of this important profession. He may now proudly display the distinguished letters "WCP" next to his name in all professional correspondence.

Indiana WC Outlook and Observations (03/09/12)

NCCI has put together a presentation (PDF file) which captures a lot of the information typically seen in its State Advisory Forums. This information compliments and expands upon the ICRB annual report.

Approved January 1, 2012 Advisory Rate Filing (10/21/11)
Circular 2011-07
Rate Filing Document
Rate Pages
 
On October 21, 2011 the Indiana Department of Insurance (IDOI) “FILED” the advisory rate filing which completes the approval process The filing proposes an increase:
• of 2.3 % to the loss costs;
• of 2.6% in overall premium level, and;
• of 2.6% in overall rate level.

 

2011 Annual Report (09/20/11)
The 75th ICRB Annual Report is available as a PDF in two formats:

  1. For monitor/screen viewing
    Download PDF
    4.9MB

  2. For printing
    Download PDF
    7.11MB

 

Membership Registration (08/23/11)
We have new registration system, so even you registered with us before (prior to August 2011), please do so again by clicking on the link below. Why register? It allows member companies and their agents to access the monthly assigned risk New Risk Lists.

Membership Registration

 

State of the Economy (rev 9/15/11)
Check out the presentation titled "State of the Economy" presented by Frank Schmid, NCCI Economist, to the ICRB Actuarial Committee in August 2011.

 

Assigned Risk LSRP Filing (12/28/11)

Effective January 1, 2012, the Loss Sensitive Rating Plan (LSRP) threshold in Indiana increases from $100,000 to $250,000. The filing eliminates the Indiana special threshold of $100,000 that had been in effect since December 1, 2002.
 


 

Related Files

 
 

The material in this document has been prepared and shared for informational purposes only and should not be relied upon as legal advice on any particular situation.