NCCI’s Elimination of Anniversary Rating Date –
What it Means for You

Marty Bask | Principal, Account Executive

Way back in July of 2015, the National Council on Compensation Insurance (NCCI) made a decision to eliminate employers’ Anniversary Rating Date (ARD) beginning May 1, 2017. Historically, the ARD was designed to control the effective period for an employer’s workers’ compensation rates and experience modification factor. It prevented employers from canceling their workers’ compensation policies when carriers’ rates dropped mid-year because the rate would not be in force until the employers’ ARD.

Without the ARD, employers are free to cancel their policy and start over again with the lower rates, but they may also pay a short rate penalty for leaving a policy before the expiration date.

In Alaska contact:
Lynne Seville // 907- 865-6828
In the lower 48 states contact:
Marty Bask // 425-709-3626

 

The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.

 

 

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