On December 27, 2013, the Workers’ Compensation Rating and Inspection Bureau of Massachusetts (WCRIBMA) submitted a rate filing with the Division of Insurance requesting an average increase of 7.7 percent in the rates for industrial classes statewide. In a Circular Letter it issued to its members, WCRIBMA said that the effective date that it had proposed to the DOI was January 1, 2014 and that in anticipation of its approval, the Rating Board has been issuing ratings effective January 1, 2014.
Today, January 8th, the Division of Insurance issued a Notice of Hearing scheduling a public hearing for 10 A.M. on January 30, 2013, at the Division of Insurance, 1000 Washington Street, Boston. The notice has the standard language that the purpose of the hearing is “…to provide evidence and testimony relating to the proposed workers’ compensation classifications, risks and rates so that the Commissioner can determine whether the proposed classifications and rates are excessive, inadequate, or unfairly discriminatory for the risks to which they apply and whether they fall within a range of reasonableness.” For those interested in viewing WCRIBMA’s proposed rate filing and supporting documentation, it is available for inspection at the Division of Insurance’s offices during its normal business hours.
For those who would like to participate in the WCRIB Rate Hearing
Massachusetts insurance professionals who would like to give either oral or written testimony at the January 30th hearing, must do so pursuant to the procedures set forth in 211 CMR 11.0.05 (3). This means that persons who wish to present unsworn oral and written statement must submit a notice of intent to comment no later than January 28, 2014. Any person wanting to speak at the hearing who has not submitted a notice of intent will be heard only after those who have notified the Division of Insurance in advance. Those interested in providing any data at the hearing should plan to file such data with the Division no later than January 17, 2014.
All notices, data files and other materials can be sent to the attention of the Docket Clerk, Hearings and Appeals, Division of Insurance, Division of Insurance, 1000 Washington St, Suite 810, Boston, MA 02118-6200. Any submissions should include the docket reference: No. R2013-02.