This problem affected five other states as well “stemming from calculations for loss costs and assigned-risk rates in 32 classifications based on incomplete payroll data in the Virginia NCCI applications approved effective April 1, 2003, April 1, 2004 and April 1, 2005,” according to Mary M. Bannister, Virginia deputy insurance commissioner.
The majority of refunds will be under $500 but a few individuals could receive upwards of $12,950. This refund is going to be credited to premiums starting November 1 for the subsequent period.
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Posted by: Anonymous | June 18, 2008 6:53 PM | Permalink to Comment