Florida Insurance Commissioner Kevin McCarty today approved an 8.9 percent initial rate increase request from the National Council on Compensation Insurance.
Although the percentage requested and approved is the same, in the murky world of workers' compensation, McCarty's Order is technically a denial of the National Council on Compensation Insurance (NCCI) initial rate filing made in August.
McCarty says the Office of Insurance Regulation (OIR) did not accept NCCI's methodology for input parameters including policyholder dividends, the loading for these dividends, and investment yields.
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