Employers to See Reduced
Workers’ Compensation Rates
for 2020
By Kari Hebrank
& Scott Jenkins,
Carlton Fields
10
Florida Insurance Commissioner
David Altmaier recently issued
an order that would result in
a 7.5 percent cut in workers’
compensation insurance rates in
2020. by Office of Insurance Regulation
(OIR) in October. However, on
October 24th, Commissioner
Altmaier responded with an order
rejecting the NCCI proposal and
instead calling for a 7.5 percent
cut.
In August, the National Council
on Compensation Insurance
(NCCI), an independent entity
which makes rating requests on
behalf of insurance companies,
proposed to reduce workers’
compensation rates by 5.4
percent. NCCI presented their
justifications and findings at a
public hearing on the matter held If approved by the OIR, the
revised rate decrease would
become effective on January
1, 2020, for new and renewal
business.
DITCHMEN • OCTOBER 2019
Florida law requires insurance
companies “to give at least 45
days’ notice of renewal premium.”
Therefore, to give proper notice