TALLAHASSEE, Fla."Florida Insurance Commissioner Kevin McCarty says a workers compensation rate filing by Boca Raton, Fla.-based NCCI Holdings Inc. calls for a decrease averaging 16.5% for 2008.

If approved, the rates would produce $650 million in savings for Florida employers, the commissioner said. It would be the fifth consecutive rate decrease and result in total workers comp rate decreases of 50.4% since state lawmakers passed sweeping reforms in 2003.

The National Council on Compensation Insurance reported that it called for the 2008 decrease because of declining frequency and costs of claims.

-----------------------------------------------------------------------------------------

By Roberto Ceniceros

© Crain Communications, Inc.

Presented by: InsuranceHeadlines.com