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The National Council on Compensation Insurance said Monday that it has recommended an overall premium level decrease of 9.6%, effective Jan. 1, 2018.
The recommended reduction stems from “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” the Florida Office of Insurance Regulation, NCCI said in a statement.
Last year, as a 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 comp costs, NCCI filed a 14.5% rate increase.
Florida’s workers compensation landscape has garnered attention for its legislative activity in response to major court decisions that have upended the system over the past year.