Fla., N.Y. Workers' Comp Reforms Working, But Officials Say More Needs to Be Done

Both Florida and New York are reporting that their respective workers compensation reforms are having an impact, but officials in both states indicated that further changes, likely through additional legislation, are necessary.

By Arthur D. Postal | Updated on October 24, 2013

Both Florida and New York are reporting that their respective workers’ compensation reforms are having an impact, but officials in both states indicated that further changes, likely through additional legislation, are necessary.

In Florida, state Insurance Commissioner Kevin McCarty rejected a proposed 1 percent annual rate increase in workers’ compensation premiums proposed by the National Council on Compensation Insurance (NCCI), but said he would approve a 0.7 percent increase effective in January if requested by NCCI.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
Educational webcasts, resources from industry leaders, and informative newsletters.
Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

California contractor fesses up to workers' comp fraud charges

Steve Hallo | April 12, 2024

The contractor underreported payroll by nearly $1 million to lower his workers’ comp premium.

Navigating the complexities of representations and warranties insurance

Daniel Simnowitz | April 15, 2024

RWI helps facilitate smoother transactions by transferring transaction-related risks to insurance carriers.

Who's using what in P&C insurance: April 15, 2024

PC360 Staff Writer | April 15, 2024

Insurance technology news from Send Technology Solutions, Trean Insurance Group, Bond-Pro, and more.

Resource Center

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Guide

Sponsored by gryphon.ai

The Ultimate Guide to SMS/Text Messaging Compliance

This guide empowers insurance carriers and risk managers to navigate complex regulations, safeguarding their brands from costly SMS and text messaging penalties.

Browse More Resources ›

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

White Paper

Sponsored by Origami Risk

Build or Buy? Considering the Critical Decisions in P&C Core Insurance Cloud Digitization Projects

Navigating the complexities of P&C core insurance digitization is no easy task. Explore the critical decisions between building or buying and how to achieve operational excellence in this white paper.

Browse More Resources ›

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

White Paper

Sponsored by Melissa

Clean Your Data to Win the Customer Retention War

As more customers “unbundle” their insurance products and spread their business among many carriers, agents must look for creative strategies to retain and grow business. Download this white paper to learn top strategies to ensure success in 2024.

Browse More Resources ›

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.