The Florida Office of Insurance Regulation (OIR) will conduct a public hearing to discuss the National Council on Compensation Insurance’s (NCCI) proposed overall statewide average workers’ compensation premium decrease of 9.6 percent on Oct. 18 at 1:00 pm EST. The public hearing will be held at 412 Knott Building, 404 South Monroe Street, Florida Capitol Complex in Tallahassee.
The proposed rate decrease, filed in August, includes a statewide average rate decrease of 9.3 percent and a reduction of the fixed expense cost applicable to every workers’ compensation policy in Florida from $200 to $160. If approved, the new rates would take effect Jan. 1, 2018.