Insurers Issue Statement on Florida Workers Compensation Rate Ruling
Tallahassee, Fla. – The National Council on Compensation Insurance (NCCI) today prevailed in its appeal in Florida. The Florida First District Court of Appeals has ordered a full reversal of the lower court decision, upholding the 14.5 percent rate increase approved by the Florida Office of Insurance Regulation. The following statement can be attributed to Logan McFaddin, regional manager for the Property Casualty Insurers Association of America (PCI).
“PCI applauds the Florida First District Court of Appeals decision, recognizing the importance of organizations like NCCI who can independently review Florida’s workers compensation system and offer recommendations. NCCI’s recommendation of a 14.5 percent rate increase is a clear indication that Florida needs a better solution to help control costs while providing quality care to injured workers.
“We continue to support the 2003 reforms to Florida’s workers compensation system that protected employees and controlled costs for employers prior to the rulings.
“Even though the 2017 Legislative Session has come to a close this week, we must continue to work with Florida lawmakers on solid solutions to ensure we can return to a vibrant marketplace in Florida where injured workers can get the care they need, while at the same time, workers compensation costs do not hinder job creators. We need a workers compensation system in Florida that all stakeholders can rely on.”