Florida Rate Increase Hearing Set

The Florida Department of Insurance has scheduled a public hearing on the workers' comp rate filing for Monday, October 14, at 9 a.m. in Room 110, Senate Office Building, Tallahassee. The National Council on Compensation Insurance has filed for a 21.5 percent rate increase that is the largest in more than a decade and another indication the market has reached a crisis. The filing reflects a variety of problems in the market including deteriorating loss experience and increasing medical and indemnity costs. Nearly half the requested increase is contained in the profit and contingency factor...