Florida's insurance commissioner got what he wanted: Workers' compensation insurance rates are to fall by a statewide average of 15.7 percent, effective Jan. 1. Commissioner Kevin McCarty approved an amended rate filing submitted by the National Council on Compensation Insurance (NCCI).
His office estimated the overall average rate decrease of 15.7 percent will produce a savings worth more than $400 million for Florida employers. Earlier this month, McCarty asked NCCI to amend its original filing, citing disagreements with the methodology NCCI used to project losses and with the trend factors used in the filing.
Per industry group, the rate drop is to be 15.4 percent for manufacturing, 16 percent for contracting, 16.2 percent for office and clerical, 15.3 percent for goods and services and 15.7 percent for miscellaneous other industries.
The decrease is the fourth consecutive rate drop since the government reformed the state's workers' compensation system in 2003. Rates dropped 13.5 percent for 2006, 5.1 percent for 2005 and 14 percent for 2004. The cumulative overall average rate decrease for the period totals more than 40 percent, McCarty's office said.
http://www.bizjournals.com/southflorida/stories/2006/10/30/daily16.html?f=et81&hbx=e_du
No comments:
Post a Comment