McCarty Gives Final Approval to 6.1% Rate Increase

Florida Insurance Commissioner Kevin McCarty announced on Monday he has approved a call by the National Council on Compensation Insurance (NCCI) to increase workers' compensation rates by 6.1% on Jan. 1.McCarty signed the final order on Friday, after NCCI made a series of technical changes called for by the insurance commissioner. NCCI submitted an amended filing on Oct. 31.Even with the latest increase, McCarty said in a press release last month, premiums will have declined by 56% since a series of reforms took effect on Oct. 1, 2003.But McCarty said he will ask Florida lawmakers next ses...