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The Office of Insurance Regulation has approved a statewide average rate decrease of 5.2% for workers’ compensation insurance effective as of January 1, 2015. The National Council on Compensation Insurance (NCCI) initially filed for a 2.5% decrease in August but later amended the filing to provide for a 3.3% decrease. The OIR reviewed the filing and […]
The Office of Insurance Regulation issued an Order disapproving a statewide average rate decrease of 3.3% for workers compensation insurance filed by the National Council on Compensation Insurance (NCCI). However, in doing so, the OIR specified revisions NCCI can make that will result in approval of a filing with a statewide average decrease of 5.2%. […]
The Florida Office of Insurance Regulation (OIR) announced that it has received the annual workers’ compensation rate filing submitted by the National Council on Compensation Insurance (NCCI). The rate filing provides for an overall 1% increase in workers’ compensation rates. The effective date of the filing is January 1, 2014. As in prior years, the […]
The National Council on Compensation Insurance (NCCI) has announced that it intends to submit a rate filing to the Florida Office of Insurance Regulation (OIR) in early June to reflect the rate reduction associated with SB 662. The bill has not yet been acted upon by Governor Scott. If it becomes law, the effective date […]
The National Council on Compensation Insurance (NCCI) has delivered its annual workers compensation rate filing to the Office of Insurance Regulation (OIR). The filing provides for an overall workers compensation rate level increase of 6.1%. The proposed effective date is January 1, 2013. Even with the proposed increase, the filing still reflects a significant reduction in rate […]
The Office of Insurance Regulation has indicated that it is too early to adjust workers’ compensation rates for changes the Florida legislature might make next year to the manner in which workers’ compensation prescriptions are dispensed. The National Federation of Independent Business asked the OIR to cut 2.5% from the National Council on Compensation Insurance workers’ […]
The Florida Office of Insurance Regulation has released its 2010 annual report on the workers’ compensation insurance industry in Florida. The report reviews the availability and affordability of workers’ compensation insurance coverage in Florida to assess the current state of the market. The report finds that the Florida market is competitive, as evidenced by a large number of insurers writing […]
The Florida Office of Insurance Regulation has issued an Order on Rate Filing to the National Council on Compensation Insurance (NCCI) arising from its recent 8.3% rate request. The OIR did not find the full 8.3% to be justified, but does believe a 7.8% change is appropriate. NCCI selected an indemnity trend factor within the […]
The National Council on Compensation Insurance (NCCI) has filed a proposed 8.3% workers’ compensation rate increase with the Office of Insurance Regulation with an effective date of January 1, 2011. The proposed change change consists of a 3.4% increase due to a change in experience, a 3.9% increase due to a change in trend, and a […]
