TALLAHASSEE (CBSMiami/NSF) – Florida employers will see overall workers-compensation insurance rates drop 4.7 percent as of January 1st, 2016.
That’s according to the state’s Office of Insurance Regulation.READ MORE: Miami Weather: Chilly Start, Warm Afternoon With Plenty Of Sun
The National Council on Compensation Insurance, while files proposed rates each year for insurers, initially called for a 1.9 percent decrease. The Office of Insurance Regulation rejected that proposal and said overall rates should go down 5.1 percent.READ MORE: Pirates Send Gold Glove Catcher Jacob Stallings To Miami
At the request of the organization known as NCCI, regulators looked again at some factors used in setting rates. That led to Thursday’s order for the 4.7 percent decrease in 2016.MORE NEWS: Busy 2021 Hurricane Season Comes To An End
The News Service of Florida contributed to this report.