The Florida Office of Insurance Regulation is holding a hearing Oct. 27 to hear testimony from the National Council on Compensation Insurance and receive public comment on a proposed 7.4% rate cut for policies incepting on or after Jan. 1.
NCCI says in the rate filing that the latest data shows a decrease in lost-time claim frequency that is a key component of the overall recommended rate reduction.
"In addition, strong wage growth in Florida has contributed to lower loss ratios because payroll serves as the exposure base for workers' compensation," NCCI said. "This effect...
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