NCRB Adopts Revisions To ARAP

Raleigh, NC (CompNewsNetwork) - The Bureau has adopted and the North Carolina Commissioner of Insurance has approved changes to the Assigned Risk Adjustment Program (ARAP). This program charges an “adjustment” factor to Assigned Risk policies.
The ARAP program is being modified to align with the National ARAP program administered by NCCI. The ARAP program has been modified to eliminate the ARAP charge to policies with credit experience modifiers. The ARAP program will continue to apply only to those policies written in the Assigned Risk Market with a debit experience modification greater than or equal to 1.01.
Corresponding to this program change, the ARAP endorsement (WC 00 04 15 A) has been modified.
The new version is numbered WC 00 04 15B (see attached).
The attached Filing Memorandum further describes the changes which have been approved to become effective in North Carolina April 1, 2010, applicable to new and renewal business.
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