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McCarty Gives Tentative Nod to 6.1% Rate Hike

Monday, October 29, 2012 | 0

Florida Insurance Commissioner Kevin McCarty said on Friday he plans to approve a 6.1% rate increase called for by the National Council on Compensation Insurance (NCCI) to take effect on Jan. 1, 2013.McCarty released the 10-page order on Friday that rejected NCCI's filing because of technical issues. McCarty said the Boca Raton, Fla.-based rate maker has to modify its calculation of minimum premiums and its estimates of production costs.Final approval of the filing will mark the third consecutive rate increase in Florida's voluntary market. McCarty approved rate increases of 7.8% in 20...

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