Workers' compensation rates eyed

TALLAHASSEE, Fla. – State regulators will hold a hearing next week on a proposal that could lead to reduced workers' compensation insurance rates for businesses.

The state Office of Insurance Regulation has scheduled a hearing Oct. 4 in the Capitol on a filing by the National Council on Compensation Insurance that would lead to an average 5.4 percent rate decrease for employers, effective Jan. 1, according to a notice posted Tuesday in the Florida Administrative Register.

The National Council on Compensation Insurance, commonly known as NCCI, files rate proposals each year for the workers' compensation insurance industry.

It filed the proposed reduction last month, with regulators required to review and sign off on any rate changes.