Other than certified acts of terrorism, NCCI's catastrophe provision only accounts for single-event losses in excess of $50 million that were caused by earthquakes, noncertified acts of terrorism or catastrophic industrial accidents (Credit: Tund/Adobe Stock) Other than certified acts of terrorism, NCCI's catastrophe provision only accounts for single-event losses in excess of $50 million that were caused by earthquakes, noncertified acts of terrorism or catastrophic industrial accidents (Credit: Tund/Adobe Stock)

Intending to recognize additional catastrophic exposures on workers' comp systems that can impact ratemaking, the National Council on Compensation Insurance (NCCI) is proposing that any event exceeding $50 million in losses be excluded from the data used to set rates, including future pandemics.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Workers' Comp