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Florida insurance commissioner approves 9.5 percent cut in workers’ comp rates

By Times Staff
Insurance Commissioner David Altmaier, who leads the Office of Insurance Regulation, approved a 9.5 percent decrease in workers' compensation rates. | [Times file photo]

TALLAHASSEE — Florida Insurance Commissioner David Altmaier on Thursday approved a 9.5 percent cut in Florida’s workers’ compensation insurance rates, as well as a 9.8 percent premium level decrease.

"I am pleased that today’s approval of NCCI’s rate filing will translate into a decrease in workers’ compensation rates for many Florida employers," Altmaier said in a release.

The changes, which affect current and new policies, will go into effect Jan. 1, 2018.