News & Updates


NCCI Files Annual Rate Filing with OIR

By: David Yon

The NCCI delivered its annual workers compensation rate filing to the Office of Insurance Regulation on August 20, 2009. The filing seeks an overall rate level change of -6.8%. The primary elements of the filing include the following: 

Rate Filing Components

Due to Change in Experience -10.1%
Due to Change in Trend +1.1%
Due to Change in Benefits 0.0%
Due to Change in Expenses (excl P&C) +0.3%
Due to Change in Profit & Contingency Factor +2.2%

The filing represents the 7th straight year of rate decreases since the 2003 legislative reforms were passed. “I am very pleased to receive another request for a reduction in workers’ compensation rates,” said Commissioner McCarty. “This is welcome news to Florida employers during these challenging economic times.”


OIR will review the filing and schedule a public rate hearing sometime in October. The proposed effective date for the filing is January 1, 2010.