RICHMOND, Va. (AP)—
The Virginia State Corporation Commission has approved adjustments in premiums charged for workers'
compensation insurance.
The National Council on Compensation Insurance requested the changes. The Florida-based ratemaking group represents insurance companies licensed to write 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 carry the coverage.
Under changes, overall premiums will increase for the industrial, federal, and surface and underground coal mine classifications in both the voluntary market and the assigned risk plan.
The changes will take effect April 1, 2012.
