Florida Insurance Commissioner Kevin McCarty has approved the latest proposed rate decrease submitted by the National Council on Compensation Insurance (NCCI) for workers' compensation insurance rates. The NCCI filing, submitted Aug. 20, includes an overall average statewide rate decrease of 6.8 percent beginning Jan. 1, 2010, for all new and renewal workers' compensation insurance in Florida.
The rate decrease will produce an estimated savings of more than $166 million for Florida employers, and represents the seventh consecutive decline in workers' compensation rates since passage of the 2003 reform package.
