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Effective April 1, 2014, Arbella has adopted the voluntary loss costs filed by the National Council on Compensation Insurance for new and renewal business. We have filed to maintain our current loss cost multipliers for preferred and standard business while adjusting our deviations for certain target classes to match those we have in Massachusetts.
The overall result of the rate change on our book of business is an increase of 5.54%. Rates for specific classes may increase or decrease more than the average.
The new target class deviations in Connecticut are as follows:
Standard and preferred rates are reduced by 7.5%
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2003
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Bakery & Drivers, Route Supervisors
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3113
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Tool Mfg-Not Drop or Machine Forged-NOC
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3132
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Nut or Bolt Mfg.
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3145
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Screw Mfg.
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3146
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Hardware Mfg.-NOC
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3257
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Wire Goods Mfg.-NOC
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3400
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Metal Goods Mfg.-NOC
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3629
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Precision Machined Parts Mfg.-NOC
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3632
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Machine Shop-NOC
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6504
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Food Sundries Mfg. NOC-No Cereal Milling
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8021
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Store: Meat, Fish or Poultry Dealer-Wholesale
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Standard and preferred rates are reduced by 5.0%
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2501
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Cloth, Canvas and Related Products Mfg. NOC
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3685
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Instrument Mfg. NOC
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4114
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Glassware Mfg.-NOC
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4149
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Optical Goods Mfg. NOC
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4692
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Dental Laboratory
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5191
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Office Machine Installation, Inspection, Adjustment or Repair
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6400
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Fence Installation and Repair
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8001
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Store: Florists & Drivers
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8006
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Gasoline Station: Self-Service and Convenience/Grocery-Retail
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8008
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Store: Clothing, Wearing Apparel or Dry Goods-Retail
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8010
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Store: Hardware
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8017
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Store: Retail NOC
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8018X
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Store: Wholesale NOC
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8031
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Store: Meat, Fish or Poultry-Retail
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8032
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Store: Clothing, Wearing Apparel or Dry Goods-Wholesale
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8033
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Store: Meat, Grocery and Provision Stores Combined-Retail NOC
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8111
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Plumbers' Supplies Dealer & Drivers
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9052
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Hotel: All Other Employees & Salespersons, Drivers
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9058
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Hotel: Restaurant Employees
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9082
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Restaurant NOC
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9519
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Household and Commercial Appliances-Electrical-Installation, Service or Repair
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9521
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House Furnishings Installation NOC & Upholstering
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Arbella continues to be a competitive market for workers compensation written in support of accounts, including Package, Auto and Umbrella coverage. If you have any questions or comments, please contact your Commercial Lines underwriter or Arbella territory manager.
Thank you for your continued business support.
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Very Truly Yours,
William S. Hughes, CPCU Assistant Vice President, Commercial Lines Arbella Insurance Group
This message was sent to all Arbella Connect™ commercial lines principals and users. Please forward to other people in your agency that might find this information useful. This notice and all product related notices are posted on Arbella Connect under Commercial Lines Updates.
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