National Council On Compensation Insurance
What Does National Council On Compensation Insurance Mean?
The National Council on Compensation Insurance (NCCI) is a national organization that analyzes and provides data on workers’ compensation insurance. It sells this information to insurance companies seeking valuable insights to enhance their business strategies.
Insuranceopedia Explains National Council On Compensation Insurance
The NCCI provides information on rating and loss cost recommendations, statistical data on premiums and exposure units, and other valuable insights.
Many companies utilize NCCI’s services as it offers a competitive edge in the workers’ compensation insurance market. Workers’ compensation claims can be costly, as they must compensate for the income workers lose due to injuries. The insights provided by NCCI are highly valuable to insurers, helping them, for example, price their premiums more effectively to maintain profitability.
