The Florida Office of Insurance Regulation said, August 21st 2015, that it has received the 2016 Florida workers’ compensation rate filing by NCCI which proposes a statewide average premium decrease of 2.2%
This includes a statewide average rate decrease of 1.9% and a reduction of the fixed expense cost applicable to every workers’ compensation policy in Florida from $200 to $160. The new rates would become effective Jan. 1, 2016.
We have yet to see a copy of the filing, but we are told this includes an average 7.7% reduction in the Longshore rates! If true this could be quite significant!
Watch this space for more information as it develops.