Florida's workers' compensation rates may go up on Jan. 1, 2012, if a filing today by the National Council on Compensation Insurance (NCCI) receives approval from the Office of Insurance Regulation (OIR).
NCCI cited changes in experience and trends in asking for an overall rate level change of 8.9 percent for 2012. In its request, NCCI states, "Following several years of significant declines, claim frequency in 2009 was up significantly. Preliminary 2010 data also shows claim frequency up further. This might be explained by the impact of the economy on workers' compensation."
NCCI also notes that, even with the increase, "Florida would continue to rank among the 20 states with the lowest workers compensation rates nationally. Florida also has and would continue to have the lowest workers' compensation rates of any state in the Southeast (defined as North Carolina, South Carolina, Tennessee, Georgia, Alabama, Mississippi, and Florida)."
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