Zenith Insurance Co. and ZNAT Insurance Co. are the first insurers in the state to submit informational workers compensation filings, a move commended by Insurance Commissioner Jessica Altman.
On Dec. 14, the Insurance Department approved a Pennsylvania Compensation Rating Bureau (PCRB) mid-year loss-cost revision filing that modifies a PCRB’s filing that took effect April 1. The PCRB makes filings to the Insurance Department on behalf of all the companies that write workers comp insurance in Pennsylvania, and its filing was used to determine workers comp insurance rates.
Insurers were asked to reimburse businesses that were overcharged because of this earlier PCRB filing.
Zenith’s and ZNAT’s filings describe how the insurance companies are retroactively making changes to policies written between April 1 and Dec. 31.
“Because information in the earlier PCRB filing was used in setting rates in place since April 1, 2018, it is possible some businesses paid higher rates than they should have since that time,” Altman said. “Therefore, I have urged all workers comp insurers to determine as quickly as possible whether this is the case for any businesses they insure, and to reimburse any businesses which have overpaid as a result of the filing that was effective April 1, 2018.”