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Media Advisory

National Council on Compensation Insurance (NCCI) Public Rate Hearing
Wednesday, August 10, 2016
Contact Info:

Amy Bogner/Karen Kees
850-413-2515                                    
press@floir.com

Who:
National Council on Compensation Insurance (NCCI)
What:

The Florida Office of Insurance Regulation (Office) will conduct a public hearing to discuss the NCCI rate filing which proposes a rate increase for the workers’ compensation line of insurance as a result of three recent legal changes. NCCI is a licensed rating organization authorized to make rate filings on behalf of workers’ compensation insurance companies doing business in Florida. 

NCCI has proposed an overall average increase in rate levels of 19.6% for the voluntary market for all new, renewal, and current in-force workers’ compensation insurance policies written in Florida, effective October 1, 2016. Individual projected rate impacts include a 2.2% increase for the Florida Supreme Court decision on the Westphal v. City of St. Petersburg case, a 15% increase for the Florida Supreme Court decision on the Castellanos v. Next Door Company case, and a 1.8% increase for updates to the Florida Workers’ Compensation Health Care Provider Reimbursement Manual as a result of Senate Bill 1402.

The general public is welcome to submit comments about NCCI’s proposed rate filing by sending an email to: ratehearings@floir.com with “NCCI” in the subject line of the email. Comments will be accepted for consideration until 5:00 p.m. (Eastern Time) on August 23, 2016. Under Florida law, written communications to the Office are public record and subject to disclosure, including being available to the public and media. Therefore, it is highly recommended that careful consideration is given to the type of information provided within a comment, such as personal information (social security numbers, policy information, etc.). To learn more, visit the Office of Insurance Regulation’s Internet Privacy Policy.

A copy of the hearing agenda can be viewed here. The Florida Channel will stream the hearing live online via its website and a link to the video recording will be available at a later date. For additional information, visit the Office’s “NCCI Public Rate Hearing” webpage.
When:
Tuesday, August 16, 2016 9:00 AM
Where:

UPDATE: The meeting location for this hearing has changed. The public hearing will now be held at 412 Knott Building, 404 South Monroe Street, Florida Capitol Complex, Tallahassee, Florida 32399

 



Contact Info:

Amy Bogner/Karen Kees
850-413-2515                                    
press@floir.com

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit www.floir.com or follow us on Twitter @FLOIR_comm and Facebook.

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