Proposed premium reduction projected to save West Virginia employers $15 million

A message for John xxxxxx - [email protected]
View this email in your browser ([link removed])
FOR IMMEDIATE RELEASE
Friday, August 9, 2024

Gov. Justice announces Workers Compensation insurance rates to drop for 20th straight year, more good news for West Virginia businesses
Proposed premium reduction projected to save West Virginia employers $15 million
CHARLESTON, WV — Gov. Jim Justice announced ([link removed]) today that the National Council on Compensation Insurance (NCCI), West Virginia’s rating and statistical agent, has filed a proposed workers’ compensation loss cost decrease of 9.1%, effective Jan. 1, 2025.

This premium reduction results in a projected $15 million in savings to West Virginia employers.

Since the workers’ compensation program was privatized in 2006, the market has experienced approximately $481 million in premium savings.

This latest filing represents the 20th consecutive year of loss cost decreases.

While the loss cost decrease of 9.1% applies to all standard classifications, a proposed 10.4% rate decrease for the assigned risk market has also been filed with the West Virginia Offices of the Insurance Commissioner.
###

============================================================

CONTACT THE COMMUNICATIONS OFFICE

C.J. Harvey
Director of Communications
** [email protected] (mailto:[email protected])

Rachael Harper
Communications Specialist
** [email protected] (mailto:[email protected])

FOLLOW GOVERNOR JUSTICE

** Gov. Justice on Twitter ([link removed])
** Gov. Justice on Facebook ([link removed])
** Gov. Justice on Instagram ([link removed])
** Gov. Justice on YouTube ([link removed])
** Gov. Justice on Flickr ([link removed])
** Governor's Website ([link removed])
You are receiving this email from Governor Jim Justice's Communications Office. Any reference to the word "campaign" in any link associated with this email has been generated by Mailchimp, an online web-based marketing program, and not by the Office of the Governor. Any document linked in this email is a document of the Governor's Communications Office and not of any campaign.

We routinely add email addresses from people we meet who contact Governor Justice's office. If you do not wish to receive messages from our office, please click the Unsubscribe link below for instant removal.
You are receiving this email because you asked to receive updates from the Governor's Office.

Our mailing address is:
Governor's Communications Office
1900 Kanawha Boulevard East
State Capitol
Charleston, WV 25305
USA
Want to change how you receive these emails?
You can ** update your preferences ([link removed])
or ** unsubscribe from this list ([link removed])
Email Marketing Powered by Mailchimp
[link removed]