October Hearing Set On Va. Workers' Comp Premiums

RICHMOND, Va._Virginia's State Corporation Commission plans to hold a hearing Oct. 20 in Richmond on proposed adjustments in premiums charged for workers' compensation insurance.

The SCC said Wednesday that the National Council on Compensation Insurance Inc. has proposed an increase in the overall premium level for the industrial, federal, surface coal mine and underground coal mine classifications. The adjustments would apply to both the voluntary market and assigned risk plan.

The Florida-based ratemaking group represents insurance companies licensed to write workers' compensation insurance in Virginia. Almost all Virginia employers are required to carry the coverage.

If approved, the adjustments would become effective April 1, 2010.