Business Services Industry
Florida rejects tiny workers comp reduction, seeks 5.1 percent rate cut.
Knight Ridder/Tribune Business News, October, 2004
By Kathy Bushouse, South Florida Sun-Sentinel Knight Ridder/Tribune Business News
Oct. 28--A proposed rate filing for workers compensation coverage was rejected Wednesday because state regulators think rates need to be lower.
Kevin McCarty, the state's insurance regulation commissioner, said he would approve a rate reflecting a 5.1 percent cut in statewide workers compensation premium, and an 11.8 percent cut for premiums paid by the state's contractors.
The filing from the National Council of Compensation Insurance called for a 0.9 percent decrease in premiums. Boca Raton-based NCCI submits rate requests on behalf of insurance companies that write workers compensation coverage
McCarty said in a statement he disagreed with...
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