• Florida Office of Insurance Regulation Issues Final Order Approving 2015 Workers' Compensation Rates
  • November 20, 2014
  • Law Firm: Colodny Fass P.A. - Fort Lauderdale Office
  • The Florida Office of Insurance Regulation ("OIR") has approved an overall decrease of 5.2 percent in Florida workers' compensation insurance rates. The OIR noted that this is the first decrease in four years.

    At the OIR's direction, the National Council on Compensation Insurance ("NCCI"), which represents approximately 250 insurers, submitted a corrected rate filing yesterday, November 12, 2014, following the OIR's disapproval of NCCI's original rate filing request.

    Florida Insurance Commissioner Kevin McCarty signed the Final Order today.

    The new rates become effective January 1, 2015 for both new and renewal policies.