The Massachusetts Workers’ Compensation Rating and Inspection Bureau, better known as the WCRIBMA, filed a request with the Division of Insurance on December 20, 2021, proposing an average statewide increased of 2.7% beginning on July 1, 2022. More specifically, the Rating Bureau is advocating on behalf of its members for a 2.7% increase in average rates for industrial classes and a 3.4% decrease for F-Classes.
For those individuals interested in reading the complete filing, which includes testimony by WCRIBMA’s actuaries and the methodology it used to arrive at the 2.7% increase, it can be accessed on the WCRIBMA website or via the link below.
A hearing on the rate increase will take place in February
In response to the WCRIBMA’s rate increase request, the Division of Insurance has scheduled a public hearing on the matter for February 4, 2022. Due to the COVID-19 Pandemic, the DOI will not be holding an in-person hearing, but rather a virtual public hearing conducted via TEAMS, a digital meeting program.
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 February 4th 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 during the virtual hearing must submit a Notice of intent to Comment to firstname.lastname@example.org no later than 5:00 p.m. on February 1, 2022. Any person who is intending to reference written data must submit said data to the DOI electronically no later than January 31, 2022. Any individual solely interested in attending the February 4, 2022 virtual hearing must submit a request to the email above, no later than February 2, 2022. For those interested in submitting written comments only, they should be sent via email to the same address. Remember, any submission to the DOI should refer to the DOI Docket No. R2021-02.
Lastly, don’t forget that any submission to the DOI should include the person’s name, telephone number, as well as their email address. The Division will notify all attendees on February 3rd, via an email with the instructions for joining the hearing.
The following is the DOI’s Notice of Hearing:
Here is the WCRIBMA Filing Request: