WCRIB Announces Workers' Comp Rate Decrease

    Posted by MAIA on March 30, 2018

    A March 23rd WCRIB Bulletin announced the Division of Insurance approval of a general revision of rates which will take effect on July 1, 2018.

    The Circular Letter #2328 noted a level rate decrease of 12.9% with additional factors to be revised including experience rating plan, retrospective rate plan, F-Classes and others. However no changes will be made to the following:

    1. Expense Constants
    2. Loss Constants
    3. Admiralty Law and Federal Employers’ Liability Act classifications
    4. Merit Rating Program
    5. Massachusetts Construction Classification Premium Adjustment Program (“MCCPAP”)
    6. Premium Discount Tables A and B

    Additionally, the scope of several class codes related to steel erection operations will also take effect on July 1st. Additional information about scope changes for the following class codes can be found in Circular Letter #2331:

    • Code 5040 – “Iron or Steel: Erection: Erection: Frame Structures”
    • Code 5059 – “Iron or Steel: Erection: Frame Structures Not Over 2 Stories in Height
    • Code 5538 – “Sheet Metal Work – Shop & Outside -NOC & Drivers”

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    Topics: The Massachusetts Agent

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