NCCI Recommends 13.4% Rate Reduction

Two years after insurers and business groups warned of dire consequences from landmark Florida Supreme Court decisions on attorneys’ fees and benefit levels, workers’ compensation rates could soon drop to their lowest level in years. The National Council on Compensation Insurance announced Monday afternoon that it is recommending a 13.4% decrease in rates for Florida, the second straight year that the rating organization has recommended a reduction in the state. The cut comes two years after a 14.5% rate increase on the heels of Castellanos v. Next Door Co., which s...