PCI Statement on OIR’s Hearing Regarding NCCI’s Workers’ Compensation Rate Increase

Tallahassee, Fla. – Today, the Florida Office of Insurance Regulation held a public hearing to discuss the National Council on Compensation Insurance (NCCI) rate filing request. The following statement can be attributed to Logan McFaddin, regional manager for the Property Casualty Insurers Association of America (PCI).

“Today’s hearing was a good step for the Florida workers’ compensation system. PCI recognizes the importance of organizations like the NCCI who can independently review Florida’s workers’ compensation system and offer recommendations. We encourage all stakeholders to review the NCCI’s analysis of the Florida Supreme Court decisions in Emma Murray, Castellanos and Westphal.

“We continue to support the 2003 Florida workers’ compensation reforms that were put in place to protect the interests of employees, as well as help control costs for business owners.

“Going forward, we must 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 employers and employees. We need a workers’ compensation system in Florida that we all can rely on.” 

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PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $183 billion in annual premium, 35 percent of the nation's property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 27 percent of the homeowners market, 32 percent of the commercial property and liability market and 34 percent of the private workers compensation market.

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Today’s hearing was a good step for the Florida workers’ compensation system. PCI recognizes the importance of organizations like the NCCI who can independently review Florida’s workers’ compensation system and offer recommendations. We encourage all stakeholders to review the NCCI’s analysis of the Florida Supreme Court decisions in Emma Murray, Castellanos and Westphal.
Logan McFaddin