News & Updates

NCCI

OIR to Receive Public Input on NCCI Workers’ Compensation Filing

OIR to Receive Public Input on NCCI Workers’ Compensation Filing

The Florida Office of Insurance Regulation (OIR) will hold a public hearing at 10:00 a.m. on October 14 to receive input regarding the National Council on Compensation Insurance’s (NCCI’s) recent rate filing proposing an average decrease of 4.9%. According to NCCI, in 2020 the workers’ compensation insurance industry posted its fourth consecutive year of underwriting […]

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OIR Approves Workers Compensation Rate Decrease

OIR Approves Workers Compensation Rate Decrease

The Florida Office of Insurance Regulation has approved a statewide overall rate level decrease of 13.8 percent for workers’ compensation insurance rates. The approval applies to new and renewal workers’ compensation insurance policies effective as of January 1, 2019. The National Council on Compensation Insurance submitted a rate filing in late summer providing for a […]

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Hurricane Michael Changes Regulatory Focus

Hurricane Michael Changes Regulatory Focus

Hurricane Michael has prompted several changes in the Office of Insurance Regulation’s recent and upcoming schedule.  The OIR’s early focus has been on assisting policyholders in the affected areas.  In addition, the OIR implemented its post-event loss reporting process.  Insurers must report their numbers of claims and estimated loss amounts on a daily basis in […]

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OIR Approves Workers Compensation Rate Reduction

OIR Approves Workers Compensation Rate Reduction

The Florida Office of Insurance Regulation has issued a Final Order approving a 9.5% overall rate reduction and 9.8% premium level decrease for the National Council on Compensation Insurance (NCCI).  This reduction applies to new and renewal policies effective as of January 1, 2018. “I am pleased that today’s approval of NCCI’s rate filing will […]

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OIR Conducts Public Hearing on Workers’ Compensation Rates

OIR Conducts Public Hearing on Workers’ Compensation Rates

The Florida Office of Insurance Regulation is holding a public hearing today to discuss NCCI’s proposed overall statewide average workers’ compensation premium decrease of 9.6%.  The rate filing includes a statewide average rate decrease of 9.3% and a reduction of the fixed expense cost applicable to every workers’ compensation policy in Florida from $200 to […]

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Court Sides With NCCI, OIR in Workers’ Compensation Rate Dispute

Court Sides With NCCI, OIR in Workers’ Compensation Rate Dispute

Florida’s First District Court of Appeal reversed a Leon County circuit judge’s order in its entirety and sided with the National Council on Compensation Insurance (NCCI) and the Florida Office of Insurance Regulation (OIR) in upholding a 14.5% workers’ compensation rate increase. NCCI submitted rate filings to OIR responding to Florida Supreme Court decisions invalidating […]

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Session Draws to Close with No Workers’ Compensation Solution

Session Draws to Close with No Workers’ Compensation Solution

With only the formal act of adopting the state budget remaining, the 2017 Florida legislative session will close without reforms to Florida’s workers’ compensation laws.  Workers’ compensation became a high profile issue for the 2017 session after several court cases determined portions of the existing statutes to be unconstitutional.  The workers’ compensation system depends on […]

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