Florida Regulators to Hold Hearing on Comp Rate Decrease

October 5, 2021

Florida insurance regulators are set to hold two hearings in the next three weeks to examine workers’ compensation rates and worker notification issues.

On Oct. 14, the Office of Insurance Regulation will host a virtual public rate hearing to discuss a 4.9% decrease in workers’ comp rates, as proposed by the National Council on Compensation Insurance. If approved, the decrease would be the fourth in the last four years and would take effect Jan. 1.

It remains to be seen if Florida Insurance Commissioner David Altmaier will demand a larger rate reduction, as he has done in several recent filings. The NCCI rate filing is available here. The log number is 21-025062, and can be entered in the “quick search” tab, the OIR said.

The hearing will be accessible here, through a webinar site, or via telephone. The call-in number is (866) 901-6455; the access code is 777-214-755. Testimony from consumers and stakeholders will be heard at the meeting.

The OIR explained that people wishing to present expert testimony at the hearing must prefile their testimony in writing on or before Oct. 8. The information should be sent to: Anoush Brangaccio, general counsel, Office of Insurance Regulation, 200 East Gaines St., Tallahassee, Florida, 32399. Any expert witness failing to prefile testimony may be prohibited from testifying.

On Oct. 27, if stakeholders request it, the Division of Workers’ Compensation will hold a hearing on what’s often referred to as “the broken arm poster.” Like most states, Florida has long required that employers display posters at the worksite, stating that “Workers’ comp works for you,” and the name of the insurer and other information.

The division has proposed no significant changes to the poster, but stakeholders may request a hearing on it.

Topics Trends Florida Pricing Trends

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