TALLAHASSEE – The Office of Insurance Regulation today received the 2015 Florida workers’ compensation rate filing by the National Council on Compensation Insurance (NCCI), which proposes a statewide average rate decrease of 2.5% – the first decrease in four years.
NCCI, which is a licensed rating organization authorized to make rate filings on behalf of insurers, reports fewer claims and a lower amount of loss is responsible for the proposed rate decrease. For more information about the NCCI filing, please read the NCCI Statement.
The statewide average rate change is based on changes to five industry groups: Manufacturing, Contracting, Office and Clerical, Goods and Services, and Miscellaneous. The Office will now review the filing to ensure the proposed changes are not excessive, inadequate, or unfairly discriminatory. The Office will also evaluate its potential effects on the insurance marketplace and employers, who are required by law to carry this insurance on their employees.