Office Issues Final Order Approving a 14.5% Increase to Workers' Compensation Insurance Rates in Florida
TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) has issued a Final Order granting approval to the National Council on Compensation Insurance (NCCI) for an overall combined statewide average rate increase of 14.5%. This rate increase applies to both new and renewal workers’ compensation insurance policies effective in Florida as of December 1, 2016.
NCCI received this approval after submitting an amended rate filing to the Office on October 4, 2016, which met the stipulations of an Order issued on September 27, 2016.
For more information about the NCCI public hearing and rate filing, visit the Office’s “NCCI Public Rate Hearing” webpage. To view or download a copy of the NCCI rate filing, access the I-File Forms & Rates Filing Search System and enter File Log #16-12500 into the “Quick Search” function.