Altmaier Approves 7.5% Decrease After NCCI's Revised Filing

The National Council on Compensation Insurance has met the Florida insurance commissioner's demand for a larger rate reduction, and the commissioner has approved it. After the NCCI in August recommended a 5.4% decrease in average loss costs for the voluntary market, Commissioner David Altmaier gave the council less than two weeks to meet his own recommendation of 7.5%. The NCCI complied, and Altmaier has approved the larger reduction, which takes effect Jan. 1, the commissioner's order reads. This is the fourth time in recent years that Altmaier has balked at NCCI's rate fil...