The National Council on Compensation Insurance (NCCI) proposed a 6.9% decrease for workers’ compensation insurance rates on new and renewal policies, effective January 1, 2026. The rate decrease is pending approval from Florida’s Insurance Commissioner. If approved, this will be the 9^th consecutive year of reductions, following a 1% decrease in 2025 and a 15.1% decrease in 2024.

NFIB has advocated for rate reductions for Florida’s small businesses as owners continue to manage inflationary business costs.

The Office of Insurance Regulation (OIR) will hold a public hearing later this month and will either approve or request a modification of the rate request in October or early November.