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NO WORKERS COMPENSATION RATE FILING FOR 1993 IN SOUTH CAROLINA

 BOCA RATON, Fla., Feb. 4 /PRNewswire/ -- The National Council on Compensation Insurance (NCCI) has decided not to make a request to change South Carolina's workers compensation insurance rates for 1993. "The latest experience indicates that current workers compensation rates are relatively adequate in the state," said Roy Wood, director of Government, Consumer and Industry Affairs for NCCI.
 The assigned risk, or market of last resort for employers who cannot obtain coverage in the voluntary market, has seen a significant rise in its rates since 1991 making it more self-supporting. "However, we continue to be concerned about the assigned risk losses in South Carolina and will monitor this situation closely in the coming months.
 "South Carolina's workers compensation system costs continue to evolve and require constant attention. All parties need to take a hard look at the South Carolina system for ways of decreasing the costs," added Wood. "For instance, it is a fact that medical costs on lost work-time cases have risen nearly 100 percent in just five years, to an average of $5,600 per case. This rate of growth has far out-stripped the rise of medical costs generally. Also, lost work-time payments to injured workers can be expected to cost an average of $9,100, up 62 percent in five years."
 The National Council on Compensation Insurance, headquartered in Boca Raton, Fla., is a voluntary, non-profit, statistical and ratemaking organization. Supported by the insurance industry, NCCI's primary functions are the preparation and administration of rates, rating plans, and systems for workers compensation insurance in 32 states, and the provision of similar assistance in about one-half of the remaining states. Members of NCCI include stock companies, mutual companies, competitive state funds and reciprocals.
 -0- 2/4/93
 /CONTACT: Roy O. Wood of the National Council on Compensation Insurance, 407-997-4568/


CO: National Council on Compensation Insurance ST: Florida, South Carolina IN: INS SU:

AW-JJ -- FL011 -- 2979 02/04/93 12:25 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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