Florida Approves 5.2% Rate Cut for Workers’ Comp
The Florida Office of Insurance Regulation has approved an overall decrease of 5.2 percent in workers’ compensation insurance rates in Florida, the first decrease in four years.
As expected, The National Council on Compensation Insurance (NCCI), which represents about 250 insurers, submitted a new rate filing at the direction of the OIR, following OIR’s disapproval of NCCI’s rate filing request for an average 3.3 percent decrease.
Insurance Commissioner Kevin McCarty signed the final order making the new rates effective January 1, 2015 for both new and renewal policies.
- Relax, Uber’s Not Interested in Entering Insurance Business
- Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
- CoreLogic Estimates Hurricane Michael Losses Could Top $4.5B; Top 10 Insurers Affected
- Travelers Teams with Amazon to Offer Smart Home Products, Insurance Quotes