Insurance regulators in Virginia will hold a hearing in October to consider a series of workers’ compensation rate adjustments requested by the National Council on Compensation Insurance.

Based in Boca Raton, Fla., NCCI manages the nation’s largest database of workers compensation insurance information, analyzes industry trends and represents insurance companies licensed to write workers’ compensation insurance in Virginia.

The NCCI has proposed an increase in the overall premium level for the industrial, federal, surface coal mine and underground coal mine classifications in both the voluntary market and the assigned risk plan.

The requested changes would take effect April 1, 2010, for new and renewal workers’ compensation policies.

The State Corporation Commission’s Bureau of Insurance scheduled a hearing on the matter for Oct. 20 at 10 a.m. in the second floor courtroom of the Tyler Building, located at 1300 East Main Street in Richmond, Va.

The largest increase would occur for policies for surface coal mines, where a 17.6% increase in the voluntary market and 18.1% increase for assigned risks is proposed. The NCCI also proposes increases to underground coal mines in the form of a 1.7% increase in the voluntary market and 4.2% increase in assigned risks.

The industrial classification would see a 3% rate increase for the voluntary market and 1.1% increase in assigned risks, while the federal classification is proposed to increase 3% in the voluntary market and 1.1% in assigned risks.