NCCI Advisory Loss Costs

NCCI Advisory Loss Costs are estimates developed by the National Council on Compensation Insurance to help insurance companies determine appropriate workers' compensation insurance premiums. They reflect the expected costs of claims, such as medical expenses and disability payments, for different types of work injuries. These advisory figures serve as a standardized benchmark, guiding insurers in setting rates that accurately cover likely claim costs while remaining competitive. Essentially, they help balance fair coverage for injured workers with the financial stability of insurers and businesses.