The Florida Office of Insurance Regulation has disapproved the filing by the rating organization, which is authorized to make rate filings on behalf of workers’ compensation insurance companies in Florida, that proposed a statewide average premium decrease of 5.4%. Instead, OIR says in its order that NCCI needs to amend its August filing and resubmit with a request for a 7.5% rate decrease for new and renewal policies taking effect Jan. 1, 2020.
OIR Orders Larger Workers’ Compensation Insurance Rate Decrease for 2020
