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Industry Information

Experience Rating Plan Methodology Update

Posted Date: Current
    
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Industry InformationExperience Rating Plan Methodology Update

FAQsFiling SummaryWebinar

INTRODUCTION

NCCI recently completed a comprehensive multi-year evaluation of the Experience Rating Plan (Plan) methodology and performance. The result is Item Filing E-1409, which creates a more predictive experience rating modification. Components of the filing include:

  • Experience rating modifications that reflect a more equitable determination of primary and excess losses across states with varying cost levels
  • More comparable Plan performance in states with claim costs that vary significantly from the countrywide average
  • Experience rating modifications that are less sensitive to large outlier claims without sacrificing predictive accuracy
  • More consistent calculation of each employer’s expected claim count
  • Recalibrated credibility parameters underlying the weight and ballast values to increase equity across employers
  • The elimination of complex calculations where no value is added

These revisions are proposed to become effective for experience rating modifications with rating effective dates on and after each state’s anticipated loss cost/rate filing (for filings effective on and after November 1, 2023).

To learn more, please review the FAQs, Filing Summary, and Webinar information on this resource page. You will find additional information in the Related Content section.

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RELATED CONTENT

Fact Sheet (PDF)
ABCs of Experience Rating (PDF)
Experience Rating Basics M​odule
Experience Rating Worksheet Overview

​Content Requires Authentication

Item E-1409
Item E-1409-A
 

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