NCCI Seeks to Decrease Workers’ Compensation Rates
By: Florida Chamber of Commerce
Florida Record, September 16, 2019
TALLAHASSEE — The National Council on Compensation Insurance (NCCI) has filed a proposed rate drop for workers’ compensation rates with the Florida Office of Insurance Regulation for the third year in a row.
Florida Chamber of Commerce director of business, economic development and innovation policy Carolyn Johnson, however, said a number of factors are preventing further rate decreases.
“While workers’ comp rates will decrease for now, NCCI has made it clear that Florida Supreme Court decisions are exerting upward pressure on system costs. Workers’ comp carriers are experiencing increases in attorney fees, litigated claims are taking longer and generally costing more,” Johnson said in a statement provided to The Florida Record.
“These factors have reduced the potential further rate decrease that could have been provided to job creators.”