Fla. Rejects 1% Hike In Workers’ Comp Rate

Law360, Miami (October 23, 2013, 9:03 PM ET) -- The Florida Office of Insurance Regulation announced Wednesday that Commissioner Kevin McCarty has rejected the 1 percent annual rate increase for workers' compensation insurance in the state, a change that had been proposed by the National Council on Compensation Insurance Inc.

The OIR concluded that an increase in production expenses put forward in the NCCI's filing was not supported by the information the council had provided, according to the agency.

“The overall production expenses have decreased in the latest year,” McCarty said in an order filed...
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