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Florida ups ante on rate decrease for workers compensation premiums.
Knight Ridder/Tribune Business News, October, 2004
By David Sedore, The Palm Beach Post, Fla. Knight Ridder/Tribune Business News
Oct. 28--The Florida Office of Insurance Regulation on Wednesday rejected a request for a 1 percent cut in workers compensation premiums statewide.
Instead, state regulators want a 5 percent rate reduction. Both the Office of Insurance Regulation and Boca Raton-based NCCI, which annually makes a rate filing on behalf of all workers compensation insurance carriers in Florida, expect the matter to be settled amicably.
Workers comp has been a chronic problem in the state, especially for contractors, who have seen their premiums skyrocket -- if they could get coverage in the private market in the first place.
The reform package the legislature passed a...
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