New NCCI Report Reviews 100 Years of Ratemaking

WHAT: This year represents a significant milestone in the history of the workers compensation (WC) system—the 100th Anniversary of the National Council on Compensation Insurance (NCCI). As NCCI celebrates 100 years of excellence, we reflect on how (WC) ratemaking has changed over the past century and impacts on key ratemaking components including:

• Ratemaking Data
• Exposure Base
• Experience Period
• Trends
• Cost Drivers
• Residual Market
• Classification

WHY: While the challenges currently facing the WC system may seem unique, the themes are quite reminiscent of historical challenges the industry has faced—inflation, changing benefit levels, data availability, and catastrophic events. There is much to be learned from the past to help us navigate today’s challenges.

WHO: The article, “100 Years of Ratemaking” is authored by Carolyn Wise, Manager & Associate Actuary and Marisa Steinberg, Assistant Actuarial Analyst.

HOW TO ACCESS THIS REPORT: The full article can be accessed on NCCI’s website using this link: 100 Years of Ratemaking.

New NCCI Report Reviews 100 Years of Ratemaking

WHAT: This year represents a significant milestone in the history of the workers compensation (WC) system—the 100th Anniversary of the National Council on Compensation Insurance (NCCI). As NCCI celebrates 100 years of excellence, we reflect on how (WC) ratemaking has changed over the past century and impacts on key ratemaking components including:

• Ratemaking Data
• Exposure Base
• Experience Period
• Trends
• Cost Drivers
• Residual Market
• Classification

WHY: While the challenges currently facing the WC system may seem unique, the themes are quite reminiscent of historical challenges the industry has faced—inflation, changing benefit levels, data availability, and catastrophic events. There is much to be learned from the past to help us navigate today’s challenges.

WHO: The article, “100 Years of Ratemaking” is authored by Carolyn Wise, Manager & Associate Actuary and Marisa Steinberg, Assistant Actuarial Analyst.

HOW TO ACCESS THIS REPORT: The full article can be accessed on NCCI’s website using this link: 100 Years of Ratemaking.

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