State Could Get Another Rate Decrease

The National Council on Compensation Insurance is recommending a statewide average premium decrease of 5.4%, effective in January, the Florida Office of Insurance Regulation announced Thursday. If approved by the insurance commissioner, the decrease will mark the third straight year of significant rate reductions in Florida, and follows a 13.4% cut for 2019. The cumulative amount of reductions, 28%, are now double the rate increase that came in early 2017, after two 2016 landmark Florida Supreme Court decisions that struck down limits on attorneys' fees and duration of benefits. Some...