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New Senate President Bill Galvano has signaled that the Senate might take up workers’ compensation reform notwithstanding that rates have decreased in the last two years. Galvano reasons that the recent downward trend in workers’ compensation rates might not be sustainable, and in fact might be followed by future rate increases, due to the Florida […]
Insurance Regulation News, workers' compensation, Florida Legislature, Office of Insurance Regulation
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 […]
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 […]
The 2017 legislative session might be best remembered for key initiatives that did not pass– the legislature did not address the “assignment of benefits” issue and the increases to workers’ compensation insurance rates following recent Florida Supreme Court opinions. The legislature also did not act with respect to Florida’s premium tax credit for salaries paid to […]
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 […]
Florida Legislature, NCCI, Insurance Regulation News, Florida Supreme Court, workers' compensation
As the Florida legislature enters the final few weeks of the 2017 regular session, several important insurance issues remain unresolved. One of the most prominent insurance issues in need of a legislative solution is the “assignment of benefits” issue. Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation chief executive officer Barry Gilway, and a number […]
Florida Supreme Court, House Insurance & Banking Subcommittee, Insurance Regulation News, workers' compensation, Florida Legislature
insurance reform, florida insurance fraud, Florida Chamber of Commerce, Insurance Regulation News, workers' compensation, Florida Legislature
