The National Council on Compensation Insurance said today it will go along with Florida Insurance Commissioner Kevin McCarty's request for a further reduction in workers' compensation insurance rates.
Last week, the commissioner rejected an NCCI proposal for a 13.3 percent rate level cutback for the voluntary market and asked for an amended filing with a decrease of an additional 2.4 percent for a 15.7 percent total.
A statement issued by Lori Lovgren NCCI state relations executive, said NCCI had the option to appeal Mr. McCarty's denial, but "after careful consideration," yesterday the firm submitted an amended filing for the rate he requested which will apply to new and renewal policies on Jan. 1, 2007.
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