UPDATED DECEMBER 1, 2016 (See Dec 1 Blog Post)
A Florida circuit judge has blocked a 14.5 percent workers’ compensation rate increase due to go into effect Dec. 1 after finding that the insurers’ rating organization and state officials did not comply with the state’s Sunshine Laws and open meeting requirements in setting the new rate.
Leon County Circuit Court Judge Karen Gievers ruled that the rate increase negotiated between the National Council on Compensation Insurance (NCCI), which represents insurers, and the state regulators within the Office of Insurance Regulation (OIR), cannot go into effect and that NCCI must turn over documents requested by the plaintiff in the case.
NCCI claims it has complied with applicable open meeting and other Sunshine Laws on transparency and the state of Florida has appealed the ruling.
The rate increase was slated to become effective on Dec. 1 for new and renewal business, with no change in rates for current in-force policies.
We will keep you posted as we learn more about the proposed workers’ compensation rate increase.
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