On
August 15, 2013, the National Council on Compensation Insurance (NCCI)
delivered its annual workers’ compensation rate filing to the Florida
Office of Insurance Regulation (OIR). Based upon its review of the most
recent data available, NCCI has proposed an overall average rate
increase of 1%, to be effective January 1, 2014.
This is the fourth year in a row NCCI has proposed an increase in rates, after eight straight years of rate decreases.
If approved, the overall average rate impact at an industry group level would be as follows:
1/1/14 Filing | 10/1/13-1/1/14 | |
Manufacturing | -3.2% | -53.7% |
Contracting | +3.5% | -57.5% |
Office & Clerical | +0.3% | -58.1% |
Goods & Services | +1.1% | -54.3% |
Miscellaneous | +0.9% | -54.0% |
TOTAL | +1.0% | -55.9% |
The Office of Insurance Regulation is expected to hold a hearing on the proposed rates in October. We will keep you updated.
Contact us for all your Insurance needs! (321)725-1620
Bob Lancaster Insurance
Serving Florida since 1964
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