hurricane modeling commission .
I don ’ t want to presuppose what the insurance commissioner will do ,” McCarty said , adding , “ but now they are introducing a new element that hasn ’ t been in the rate filing before so I think it will probably be a subject of some discussion .”
NCCI also is seeking approval for an average 4.9 percent reduction in workers ’ compensation insurance rates for 2022 .
NCCI held a phone call with business interests Monday explaining the proposed 4.9 percent reduction and briefly touched on the catastrophe proposal .
Meanwhile , insurance regulators have started asking NCCI questions about the need for the potential catastrophe charge . For example , state actuary Greg Jaynes asked NCCI how many single events have resulted in $ 50 million in workers ’ compensation losses in the aggregate . x
NCCI Director of State Relations Dawn Ingham responded that COVID 19 --- which has resulted in the deaths of more than 44,000 Floridians since March 2020 --- was the only catastrophic event that falls into the category of a workers ’ compensation exposure in excess of $ 50 million for which there is no explicit charge to employers .
NCCI estimates that --- excluding selfinsured insurance plans --- workers ’ compensation claims will exceed $ 500 million in the 34 states in which it operates . Florida ’ s COVID-19 workers ’ compensation claims --- excluding self insured claims --- for calendar year 2020 are $ 34.1 million , according to NCCI data .
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SEPTEMBER 2021 • DITCHMEN 15