Florida
Insurance Commissioner Kevin McCarty this week ordered a 5.1 percent reduction
in workers’ compensation rates, rejecting last month’s proposal by the National
Council on Compensation Insurance (NCCI), calling for a 1.9 rate reduction.
“Florida’s workers’ compensation market is both competitive and affordable.
This approval would represent a 60 percent cumulative reduction in Florida
workers’ compensation rates since 2003 and having competitive rates is a
critical element in bringing new jobs to our state,” McCarty. “It allows
Florida’s businesses to continue growing economically, while helping injured
workers get the medical assistance they need to return to work.”
If approved by NCCI, the rate change would be effective January 1, 2016.
