The rate reduction follows a similar trend in recent
years. Ahead of 2019, rates were cut by 13.9 percent. For
2018, rates were reduced by 9.5 percent.
prior to Jan. 1, Altmaier’s order calls
for the new proposal, with that 7.5
percent cut, to be submitted by
Nov. 4.
Altmaier cited a drop in workers’
compensation claims as part of
his justification for seeking a larger
reduction in those rates. “From
2010 to 2017, the frequency of
workplace injuries declined from
22.4 per million of wage-adjusted
premium in 2010 to 16.9 per million
of wage-adjusted premium in
2017,” Altmaier wrote.
“According to NCCI, claim
frequency decline for workers’
compensation is not unique
to Florida for numerous years
frequency has been declining
countrywide similar to Florida.
A representative from NCCI
testified that claim frequency
decline is due, in part, to safer
workplaces, enhanced efficiencies
in the workplace, increased use
of automation, and innovative
technologies, and the that decline
is expected to continue in the
future.”
The rate reduction follows a
similar trend in recent years.
Ahead of 2019, rates were cut by
13.9 percent. For 2018, rates were
reduced by 9.5 percent.
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