Contact: Beth Scott
Tallahassee – The Florida Office of Insurance Regulation will conduct a public hearing Friday to consider a worker's compensation rate filing from the National Council on Compensation Insurance, Inc. (NCCI) asking for an overall average decrease of 7.2 percent.
The hearing will be in Tallahassee Friday at 9:00 a.m. in 212 Knott Building in the Capitol Complex.
For the third consecutive year, NCCI has asked for a decrease for the voluntary market for all new and renewal worker's compensation insurance policies written in the state, a decrease effective Jan. 1, 2006.
If the Office approves this year's filing, the cumulative overall average rate decrease for Florida employers would be 24.8 percent since Senate Bill 50A was passed by the Legislature in 2003.