NCCI Proposes 4.9% Rate Cut for 2022

The National Council on Compensation Insurance proposed an overall average 4.9% rate level decrease for the voluntary market, effective Jan. 1, the Florida Office of Insurance Regulation announced Monday. NCCI said the filing is based on favorable experience data observed in policy years 2018 and 2019. “Florida’s lost-time claim frequency continues its decline while the state’s average indemnity and medical costs per lost-time claim have exhibited relatively more year-to-year volatility,” a summary of the filing reads. The filing doesn’t include COVID-19 c...