Hearing on NCCI's Recommended Rate Decrease Set for Oct. 17

The Florida Office of Insurance Regulation has scheduled a public hearing for Oct. 17 to consider the National Council on Compensation Insurance’s proposal to reduce rates by 13.4%. NCCI filed for the reduction in August, the second straight year that it has recommended a rate cut. NCCI said insurers are experiencing lower losses amid a nationwide decline in claim frequency. The latest filing, to take effect Jan. 1 if approved by OIR, follows a 14.5% reduction last year. The hearing is scheduled for 1 p.m. Oct. 17 in Committee Room 301, 404 S. Monroe St., Florida Capitol Complex,...