The Indiana Compensation Rating Bureau (ICRB) is a statutory rating organization. It is a private non-profit, unincorporated association of all insurance companies licensed to write workers compensation insurance in Indiana.
The law empowers the ICRB to gather information from its member companies that may be necessary to establish fair and adequate advisory rates. In addition to the data collection and ratemaking functions, the ICRB is responsible for various workers compensation programs: rules promulgation, experience rating, inspection and classification, assigned risk administration, industry education, and dispute resolution.
News and other interesting stuff.
1. Second Injury Fund Assessment and Policy Surcharge (posted 01/14/15)
The WC Board of Indiana will assess carriers and self-insureds $7,863,857.in 2015. The statewide average policy surcharge factor is 0.0082. For more info, please see ICRB Circular 2015-01.
2. Terrorism Risk Insurance Program Reauthorization Act of 2015 (posted 01/14/15)
H.R. 26 was signed by President Obama on 01/12/15 to enact the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA of 2015). The ICRB will file Item Filing P-1412 with the Indiana DOI to update endorsements in the NCCI Forms Manual.
3. Indiana WC Outlook and Observations (10/31/14)
NCCI has updated its presentation (PDF file) from October 2013 which captures a lot of the information typically seen in its State Advisory Forums. This information compliments and expands upon the ICRB annual report.
4. Approved Advisory Rate Filing Effective January 1, 2015
The proposed advisory rate filing contemplates a decrease of:
5. 78th Annual Report 2014 (revised 10/31/14)