Workers’ Compensation Update – NCCI Recommends 2018 Rate Decrease
September 29, 2017 by boydjenerette on News
The National Council on Compensation Insurance (“NCCI”) has recommended an overall premium level decrease of 9.6%, effective January 1, 2018. The recommended decrease is a result of “a continued improvement in claim frequency, more than an 8% decrease in Florida over the last two years, and is the primary driver of the decrease” filed with the Florida Office of Insurance Regulation, NCCI said in a statement. Last year NCCI filed a 14.5% rate increase in response to Florida Supreme Court decisions in cases Castellanos v. Next Door Company, et al. and Westphal v. City of St. Petersburg, et al. that were projected to increase workers’ compensation costs.