NCCI REQUEST REDUCED WC RATES

An overall 4.5 percent decrease for workers’ compensation in Florida in five major industrial classifications has been requested by the National Council on Compensation Insurance Inc. of Boca Raton, Fla.

This is the third time since major reform legislation was passed in 2003 that NCCI has filed to decrease rates. The filing is under review by the Florida Office of Insurance Regulation in Tallahassee, and if approved, will take effect Jan. 1.

The latest cuts would bring rates in manufacturing down 1.3 percent, in contracting down 2 percent, in office and clerical down 5.5 percent, in goods and services down 5.2 percent and in all other industrial classes down 8.5 percent.