Florida Insurance Commissioner Kevin McCarty has advised theNational Council on Compensation Insurance (NCCI) that he wouldapprove a rate filing to increase Florida's workers' compensationinsurance rates by 7.8 percent, effective Jan. 1, 2011, for new andrenewal business.
|The action istechnically a denial of NCCI's recent rate filing that sought an8.3 percent increase."The rate increase that that has beenjustified would still give Florida the lowest rates in thesoutheast, and likely keep us in the top 10 states nationally formost affordable workers' compensation insurance," said CommissionerMcCarty. "The NCCI's prior seven annual filings represent thelargest consecutive cumulative decrease in rates in our state'shistory."
|If NCCI accepts the Commissioner's findings and makes are-filing, this would give Florida a cumulative decrease of 61.9percent since major reforms were enacted 2003.
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