Inside Pennsylvania’s Experience Rating Plan Update: Key Changes
Pennsylvania's Experience Rating Plan has undergone its first update since 2004. Through its research, the Pennsylvania Compensation Rating Bureau (PCRB) identified opportunities to improve the existing plan and to improve cohesiveness between the Merit Rating and Experience Rating plans.
When it takes effect next year, the updated plan will better incentivize workplace safety while accurately reflecting an employer's past loss experience and ensuring that premiums are more closely aligned with the actual risk profile of the insured.
PCRB Vice President, Actuarial Services and Chief Actuary Brent Otto and Director of Actuarial Research Peter Yoon will host a webinar for PAMIC members that uncovers the key changes in this Experience Rating Plan update.