The Florida Office of Insurance Regulation has scheduled a hearing next week on a proposal that would lead to an overall 15.1 percent workers’ compensation insurance rate decrease in 2024.
The hearing will be held Oct. 5 at the Office of Insurance Regulation in Tallahassee, according to a notice published Tuesday in the Florida Administrative Register.
The proposal, filed in August by the National Council on Compensation Insurance, would take effect Jan. 1 if approved by regulators.
In the news :Florida AG Ashley Moody Sounds Alarm On AI That Targets Teens With Sextortion
The National Council on Compensation Insurance, known as NCCI, said in a summary of the filing that it was based on claims experience in the 2020 and 2021 policy years.
“Favorable loss experience has been observed in each of these time periods, a primary driver of the rate decrease proposed in the filing,” the summary said. NCCI files a rate proposal each year for the workers’ compensation industry.
Android Users, Click To Download The Free Press App And Never Miss A Story. Follow Us On Facebook and Twitter. Signup for our free newsletter.
We can’t do this without your help; visit our GiveSendGo page and donate any dollar amount; every penny helps