NCCI Follows Huge Rate Increase With 9.3% Recommended Decrease

The National Council on Compensation Insurance on Monday recommended a 9.3% overall rate decrease for Florida employers because of favorable experience in policy years 2014 and 2015. NCCI stressed, however, that the proposed decrease is based on data that precedes the Florida Supreme Court decisions in Castellanos and Westphal from the spring of 2016. The ratings firm recommended, and the state Office of Insurance Regulation approved, a 14.5% rate hike effective last Dec. 1 after the high court struck down as unconstitutional the statutory claimants’ attorney fee schedule and the state...