Regulators to Hold Hearing Tuesday on 5.7% Loss Cost Decrease

The Florida Office of Insurance Regulation will hold a rate hearing at 1 p.m. Eastern Tuesday to take testimony on a proposed loss cost decrease for 2021. The National Council on Compensation Insurance has recommended a 5.7% average decrease in loss costs for the voluntary market, based on losses and claims in 2017 and 2018. The recommendation does not take into account the more than 13,000 coronavirus claims that have been filed this year, nor the loss in written premium. The state insurance office said it will hold the hearing via video conference. Information on accessing the he...