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Workers' Compensation Insurance

Category: NCCI

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Higher Workers Comp Rates in 2013

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 – […]

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Verifying NCCI Mod Calculation

The initial step in controlling your mod is verifying that the information on it is correct. There are two types of data in your mod calculation: loss data and payroll data. The majority of incorrect mods that are issued are incorrect due to erroneous data.

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NCCI Proposed 6.1% Work Comp Rate Increase

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 […]

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Workers Comp Claims are Lasting Longer

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.

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Proposed Changes to Experience Mod Calculations

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.

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Update on Changing Workers Comp Rates

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 […]

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NCCI Proposes Workers Comp Rate Increase for 2012

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 […]

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