VA | The Virginia State Corporation Commission has issued Administrative Order No 12147.
By correspondence dated December 17, 2021, came National Council on Compensation Insurance on behalf of its members and filed with and proposing to revise the footnotes to the Prefaces to the Experience Rating Plan and Statistical Plan rules that New York experience is no longer used in the NCCI interstate experience rating plan, with the New York Compensation Insurance Rating Board’s withdrawal from the NCCI Experience Rating plan and requested the approval of the Commissioner of Insurance of certain revisions to the Manual of Rules, Classifications and Rates for writing Workers’ Compensation Insurance in this Commonwealth, to wit: Item Filing E-1408 Revisions for New York Withdrawal From the NCCI Interstate Experience Rating Plan
The proposed revisions in this filing to the Manual of Rules, Classifications and Rates for writing Workers’ Compensation Insurance in this Commonwealth will not produce rates which are excessive, inadequate, or unfairly discriminatory, and should be, and they hereby are, approved for use in this Commonwealth when calculating interstate experience modification factors with rating effective dates of October 1, 2022 and later.