NCCI Makes Amended Workers’ Compensation Rate Filing: November 14
Nov 14, 2008
The National Council on Compensation Insurance (“NCCI”) submitted an amended workers’ compensation rate filing to the Florida Office of Insurance Regulation (“OIR”) today, November 14, 2008, in response to the Supreme Court of Florida opinion in Murray v. Mariners Health/ACE USA on October 23, 2008.
The amended rate filing proposes a first-year rate level increase of 8.9 percent for new and renewal policies effective on or after March 1, 2009. NCCI estimates that the full impact of the Murray decision will be an increase in overall Florida workers’ compensation system costs of 18.6 percent. Additionally, the amended rate filing proposes that the increased rates apply to all policies in effect on March 1, 2009 on a pro-rata basis through the remainder of the policy term.
It is expected that OIR will schedule a public rate hearing on this amended rate filing.
A copy of the release on the amended NCCI rate filing is attached for your review.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.
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