Office Approves a 9.5% Decrease to Florida’s Workers’ Compensation Insurance Rates
– Florida Insurance Commissioner David Altmaier has issued a Final Order granting
approval to the National Council on Compensation Insurance (NCCI) for a
statewide overall rate level decrease of 9.5% and premium level decrease of
9.8%. This applies to both new and renewal workers’ compensation insurance
policies effective in Florida as of January 1, 2018.
am pleased that today’s approval of NCCI’s rate filing will translate into a
decrease in workers’ compensation rates for many Florida employers,” stated
Commissioner Altmaier. “The Office will continue to monitor the marketplace and
support reforms that provide additional cost savings for Florida’s businesses.”
job creators will no doubt appreciate this significant cost savings, a step
that will support our state’s growing economy,” said Florida’s Chief Financial
Officer Jimmy Patronis. “I’m pleased to see the cost of business going down,
and as the Legislature looks at our workers’ compensation system, I will be
working with them on proposals to lock in these lowering rates.”
NCCI received this approval after submitting an amended rate filing to the
Office on November 7, 2017, which met the stipulations of an Order
issued by the Commissioner on October 31, 2017.
For more information about the NCCI public hearing and rate filing, visit the
Public Rate Hearing” webpage.