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The Office issued an order on October 24, 2011 advising NCCI that its request for an overall rate increase of 8.9% would be approved if the NCCI modified its methodology for factoring in dividends. The increase is to become effective January 1, 2011. NCCI – OIR Order on Rate Filing OIR press release
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’ […]
Over the weekend, the State of Florida announced that the minimum wage would increase from $7.31 per hour in 2011 to $7.67 per hour starting January 1, 2012. The minimum wage for tipped employees will also increase from $4.29 per hour to $4.65. The increase is based upon a rising Consumer Price Index and Florida’s […]
NCCI filed a request for a statewide average rate increase of 8.9% and the OIR held a public hearing to gather testimony and evidence regarding the request. Insurance Commissioner Kevin McCarty chaired the panel listening to the presentation of the NCCI. He was joined on the panel by Belinda Miller (General Counsel), Richard Koon (Deputy […]
The National Labor Relations Board (NLRB) has postponed the implementation of its new posting rule regarding employee rights information. In a press release issued Wednesday, October 5, 2011, the NLRB announced that the new employee rights posting requirement would not be effective until January 31, 2012. The press release can be found here: https://www.nlrb.gov/news/posting-employee-rights-notice-now-required-jan-31-board-postpones-deadline-allow-further-educa According to […]
The front page of the EEOC’s website may look a little different to viewers today as the government’s site contains a dedicated space to recruit claimants for a lawsuit filed by the EEOC against Bass Pro Outdoor World, LLC (“Bass Pro”) in the U. S. District Court for the Southern District of Texas, Houston Division […]
Insurance Regulation News, workers' compensation, Office of Insurance Regulation
The Division of Workers’ Compensation has issued 2 informational memoranda setting assessment rates for the 2012 calendar year. Workers’ Compensation Administration Trust Fund – DFS-02-2011 – The assessment rate for 2012 is 1.75%. Each year the Department estimates the amounts needed for the administration of Chapter 440, Florida Statutes. This figure takes into account the […]
Rick Scott, Insurance Regulation News, workers' compensation, Florida Legislature
The Florida legislature passed HB 723 during the 2011 legislative session relating to reciprocity of workers’ compensation claims. Governor Rick Scott has signed the bill into law, and the new law takes effect July 1, 2011. By its terms, the law applies to any claim made on or after July 1, 2011, regardless of the […]
