Contact: Beth Scott
Tallahassee – For the third consecutive year, the Florida Office of Insurance Regulation (Office) has received a workers' compensation rate filing from the National Council on Compensation Insurance, Inc. (NCCI) asking for a rate decrease.
NCCI has asked for an average overall rate decrease of 4.5 percent, effective Jan. 1, 2006.
If the Office approves this year's filing, the cumulative overall average rate decrease for Florida employers would be 22.1 percent since reform bill, Senate Bill 50A, was passed by the Legislature in 2003.
The filing also calls for an overall decrease of 2 percent for contractors.
The filing is under review by the Office and a public hearing will be in the next few weeks.