National Council on Compensation Insurance NCCI
What does National Council on Compensation Insurance NCCI mean?
The National Council on Compensation Insurance (NCCI) is a collection bureau which operates within the United States and specializes in rating and data collection for workers' compensation. They are a non-profit and are wholly owned by their member insurers.
According to the NCCI, they are "the nation's most experienced provider of workers' compensation information, tools, and services." They provide data to their users which they have gathered, analyzed, and prepared.
Information which they consider useful includes data concerning industry trends and objective insurance rate and loss cost recommendations. Additionally, they state they are leaders in research, analytical services, and tools. They also pride themselves on their "overall commitment to excellence to help foster a healthy workers' compensation system."
The NCCI maintains a website which provides information to users. Information includes press kits, Annual Reports and Issues, and maps (which reference states whose insurance departments have designated NCCI as the licensed rating and statistical organization).
They also provide manuals which provide information about how workers' compensation insurance premiums are calculated in many states. Other states use the NCCI to collect data for rate making and determines proper workers' compensation classifications and experience modification factors.
Each year, the NCCI collects data for the more than four million workers' compensation claims that are filed and the two million workers' compensation policies. Groups which use data from the NCCI include regulatory authorities, non-governmental workers' compensation agencies, insurance companies, employers, and state workers' compensation insurance funds.
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