OIR Holding Hearing on Proposed 15.1% Rate Cut Oct. 5

The Florida Office of Insurance Regulation is holding a virtual public hearing Oct. 5 to take testimony on a proposal to reduce workers’ compensation rates by an average of 15.1%. The National Council on Compensation Insurance in August recommended the rate cut for policies incepting on or after Jan. 1, 2024, citing favorable loss experiences in policy years 2020-2022. The hearing is at 2 p.m. Oct. 5. OIR said those who want to provide expert testimony at the hearing must pre-file statements in writing by Friday by sending them to Anoush Brangaccio, General Counsel, Office of Insuranc...