May 22, 2012
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Va Workers' Compensation Premiums OK'd

The Virginia State Corporation Commission has approved adjustments in premiums charged for workers' compensation insurance.

The National Council on Compensation Insurance requested the
changes. The Florida-based ratemaking group represents insurance
companies licensed to write workers' compensation insurance in
Virginia.

Workers' compensation insurance provides medical care and wage
replacement benefits to injured workers. Almost all Virginia
employers are required to carry the coverage.

Under changes, overall premiums will increase for the
industrial, federal, and surface and underground coal mine
classifications in both the voluntary market and the assigned risk
plan.

The changes will take effect April 1, 2012.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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