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Florida Insurance Commissioner orders rate decrease effective January 01, 2016 of 4.7%

 

On November 6, 2015, the NATIONAL COUNCIL ON COMPENSATION INSURANCE, INC. ("NCCI") filed a request with the FLORIDA OFFICE OF INSURANCE REGULATION ("OFFICE") requesting the OFFICE to reconsider three issues in response to the OFFICE's Order dated November 3, 2015. The filing specifically waived NCCl's right to an administrative hearing and indicated that additional information was to be provided to support its request to reconsider: 1) the disapproval of the $160 expense constant; 2) the disapproval of the indemnity trend requested by NCCI; and 3) the disapproval of the profit and contingency factor requested by NCCI.

 

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