Consumer Advocate Says Fla. Rate Cut Too Little, Too Late

Florida's insurance industry watchdog said Monday the National Council on Compensation Insurance's call for a 13.3% decrease in workers' compensation rates doesn't go far enough. Insurance Consumer Advocate Steve Burgess told the Office of Insurance Regulation that lost-cost rates should be cut by 23%, according to a spokesman for the Florida Insurance Council. Burgess, who works for the state Department of Financial Services, questioned the size of the rate cut at a pubic hearing Monday in Tallahassee. In urging for a deeper rate cut, Burgess reportedly told Insurance Commissioner Kev...