
The Florida Office of Insurance Regulation (OIR) has approved a decrease of 1.8% for Florida workers’ compensation rates effective June 1, 2018. The rate decrease applies to new business written on or after June 1st and to existing policies renewing on or after June 1st. The National Council on Compensation Insurance (NCCI) filed a rate decrease with OIR as a result of the federal Tax Cuts and Jobs Act, which became law in December 2017 and which NCCI says will increase profits to insurance companies. The rate decrease is intended to offset this increase.
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Bob Lancaster Insurance
Serving Florida since 1964
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