​The SC Department of Insurance has published Bulletin 2016-02. This new bulletin outlines recent legislative changes and filing procedures for workers' compensation insurers relating to loss cost adoptions and loss cost multipliers. It also withdraws Bulletins 2007-13, 2007-13B, and 2009-18.​ 

​In summary, the legislation, (signed into law on June 3, 2016) requires  workers’ compensation insurers to adopt new loss costs within 60 days of the approval date of those loss costs.  The effective date of this adoption must be within 120 days of NCCI’s effective date of the approved loss costs.  Loss Cost Multipliers are still subject to prior approval, and the review time has been extended from 30 to 60 days.
 

​View Bulletin 2016-02​