Important Current Update to Florida Workers’ Compensation Rate Filing
Please find the below press release from the Florida Office of Insurance Regulation for further information:
Office Files Notice of Appeal in Workers’ Compensation Court Case TALLAHASSEE, Fla. –The Florida Office of Insurance Regulation (Office) has filed a Notice of Appeal with the First District Court of Appeal in the Fee v. National Council on Compensation Insurance (NCCI)/Office court case. This action comes in response to a court order issued on November 23, 2016, which invalidated the 14.5% overall combined statewide average rate increase approved by the Office on October 5, 2016. Based on the Office filing its Notice of Appeal, the order is stayed pursuant to Rule 9.310(b)(2), Florida Rules of Appellate Procedure. The increase is scheduled to take effect on December 1, 2016 and apply to both new and renewal workers’ compensation insurance policies in Florida.
For more information about the NCCI public hearing and rate filing, visit the Office’s “NCCI Public Rate Hearing” webpage. To view or download a copy of the NCCI rate filing, access the I-File Forms & Rates Filing Search System and enter File Log #16-12500 into the “Quick Search” function. NCCI is a licensed rating organization authorized to make rate filings on behalf of workers’ compensation insurance companies in Florida.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit www.floir.com or follow us on Twitter @FLOIR_comm and Facebook.