On Friday, October 26, 2012, the Florida Office of Insurance Regulation (OIR) issued an order stating that it would approve the 6.1% overall workers’ compensation rate level increase requested by the National Council on Compensation Insurance (NCCI), if NCCI submits another filing addressing several miscellaneous issues. [One of these changes involves the minimum premium – [...]
On August 23, 2012, the National Council on Compensation Insurance (NCCI) delivered its annual workers’ compensation rate filing to the Florida Office of Insurance Regulation (OIR). Based upon its review of the most recent data available, NCCI has proposed, effective January 1, 2013, an overall average rate increase of 6.1%. According to NCCI, claim frequency [...]
The average duration of workers compensation temporary total disability claims benefits increased during the first half of 2011 in correlation with the struggling economy, according to a study by NCCI Holdings Inc.
A report on Florida’s workers compensation program says costs rose over a five-year period after reforms in 2003 drove those costs down by 20 percent. A study by the Workers Compensation Research Institute titled “CompScope Benchmarks for Florida, 12th edition” says the market showed signs of growth from 2005 to 2009 following reforms in 2003. [...]
NCCI has proposed changing the primary loss cap that is used to modify workers comp rates for employers based on their claims. This will be the first such change in 25 years. The anticipated change (if approved) is expected to more than triple the current cap by 2015.
On August 18, 2011, the National Council on Compensation Insurance (NCCI) proposed an overall workers’ compensation rate level increase of 8.9% effective January 1, 2012. On October 24, 2011, the Office of Insurance Regulation (OIR) issued an order stating that NCCI’s request would be approved if NCCI submited an amended filing addressing several miscellaneous issues [...]
The Florida Division of Workers’ Compensation Insurance presents their Annual Report with detailed information about their duties and successes during the past fiscal year. Read more here…
Florida’s workers’ compensation rates may go up on January 1, 2012, if a filing by the National Council on Compensation Insurance (NCCI) receives approval from the Florida Office of Insurance Regulation (OIR). The filing stated the following: On August 18, 2011, the National Council on Compensation Insurance (NCCI) delivered its annual workers compensation rate filing [...]
Professional sports teams in Florida have led the charge to change Florida workers’ compensation law to better benefit employers. The legislation is designed to prevent workers who are injured while temporarily working in another state from pursuing their claim against the employer in those states.
As part of a statewide crackdown on identity theft and workers’ compensation fraud, Florida Chief Financial Officer Jeff Atwater announced yesterday the arrests of three Lake Worth men for using stolen social security numbers to fraudulently gain employment. Investigations continue into the possible fraudulent use of the same social security numbers by other individuals across [...]