Gov. Justice announces Workers Compensation insurance rates to drop for 20th straight year, more good news for West Virginia
August 9, 2024
Gov. Jim Justice announced 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.