What is the primary function of the National Council on Compensation Insurance?

The primary function of the National Council on Compensation Insurance (NCCI) is to provide statistical data for rate-making. The NCCI plays a vital role in the workers' compensation insurance system by collecting and analyzing data related to losses and claims. This data supports the development of loss costs and rate-making procedures, which help insurers determine proper premium rates for workers' compensation coverage. By ensuring that rates are set based on accurate and comprehensive data, the NCCI helps maintain the financial stability of the workers' compensation system and ensures that coverage is affordable and equitable for employers across various industries. This function is essential for the overall regulation and efficiency of the workers' compensation market.