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Florida insurance chief orders steeper rate cut

By Times Staff Writer
Posted: Oct 15, 2008 05:09 PM

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Florida Insurance Commissioner Kevin McCarty has ordered steeper cuts in workers compensation insurance rates charged to employers.

McCarty said Wednesday that he disapproved the National Council on Compensation Insurance's proposed rate cut of 14.1 percent.

Instead, he's ordered NCCI to file an amended filing that would reduce workers comp rates by 18.6 percent.

The steeper reduction translates into a $610-million saving for Florida employers, McCarty's office said.