According to a release from Florida Insurance Commissioner Kevin McCarty, the National Council on Compensation Insurance (NCCI) filed for a 4.2% rate decrease on May 7. If approved by McCarty's office, this decrease — the eighth since 2003 — would bring the cumulative overall statewide average decrease in Florida's workers' compensation rates to 64.7 percent since the massive 2003 reforms. The filing calls for an effective date of July 1 on new and renewal policies. In making the filing, NCCI cited the reduction in assessments on carriers and self-insurers from the Special Disability Trust Fund (SDTF) from 4.52% to 1.46%. The Legislature established the SDTF in 1955 to encourage the employment of workers with pre-existing conditions. The SDTF was modified in 1997 to eliminate the eligibility for accidents that occurred after Jan. 1, 1998. This is the first decrease in the SDTF assessment since 1994.
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