NCCI-WORKERS-COMP
US workers comp statistical bureau.
Definition
NCCI publishes the Basic Manual (rules of classification 700+ class codes), Statistical Plan (data collection), Experience Rating Plan, Retrospective Rating Plan, Aggregate Reports. Supports State DOIs during rate approval. Minority competitors: Pennsylvania PCRB, California WCIRB, NY NYCIRB, New Jersey CompManagement. Recognised by 38 states.
Origin
NCCI founded 1922 in Boca Raton, Florida.
Example in context
A US factory risk manager receives annually their Experience Modification Factor computed by NCCI ; moving from 1.05 to 0.85 cuts annual premium by 20%.
Related terms
- Stat Plan — data collection.