Florida Insurance Commissioner David Altmaier issued an Order late yesterday notifying the National Council on Compensation Insurance (NCCI) that its 2018 rate filing has been disapproved and, if amended by November 7, 2017, will be approved with a slightly larger workers’ compensation rate decrease. Approval of a revised rate decrease is contingent on the amended filing being submitted with changes as stipulated within the Order. If approved by the Office, the revised rate decrease would become effective on January 1, 2018 for new and renewal business.
National Council on Compensation Insurance
National Council on Compensation Insurance (NCCI) Public Rate Hearing
MEDIA ADVISORY
WHO: National Council on Compensation Insurance (NCCI)
WHAT: The Florida Office of Insurance Regulation (Office) will conduct a public hearing to discuss NCCI’s proposed overall statewide average workers’ compensation premium decrease of 9.6%. This includes a statewide average rate decrease of 9.3% and a reduction of the fixed expense cost applicable to every workers’ compensation policy in Florida from $200 to $160. The general public is welcome to submit comments about NCCI’s proposed rate filing by sending an email to: [email protected] with “NCCI” in the subject line of the email. Comments will be accepted for consideration until 5:00 p.m. (Eastern Time) on October 25, 2017. Under Florida law, written communications to the Office are public record and subject to disclosure, including being available to the public and media. To learn more, visit the Office’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: Wednesday, October 18, 2017 at 1:00 p.m.
WHERE: The public hearing will be held at 412 Knott Building, 404 South Monroe Street, Florida Capitol Complex, Tallahassee, Florida 32399
