RICHMOND — The State Corporation Commission (SCC) has approved revisions to the premium levels charged for workers’ compensation insurance in Virginia.

Workers’ compensation insurance provides medical care and wage replacement benefits to injured workers. Almost all Virginia employers are required to provide the coverage to their employees.

The National Council on Compensation Insurance (NCCI) sought the revisions. The changes approved by the SCC will increase the overall premium levels for the industrial, federal, and surface and underground coal mine classifications in both the voluntary market and the assigned risk plan.

The changes will become effective April 1, 2012, for new and renewal workers’ compensation policies, as follows:

Schedule showing approved workers' compensation premium levels

Class	Voluntary Market Loss Costs	Assigned Risk Rates
Industrial	+10.5%	+11.4%
“F” (Federal)	+02.8%	+01.7%
Coal Mines (Surface)	+16.8%	+19.1%
Coal Mines (Underground)	+13.4%	+13.4%

NCCI, a Florida-based rate service organization, represents insurance companies licensed to write workers’ compensation insurance in Virginia.

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Case number INS-2011-00163