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Workers' compensation premiums for Florida businesses could drop

David Altmaier, commissioner of the Florida Office of Insurance Regulation, is expected to consider a proposal this month that could reduce workers' compensation premiums by just over 9 percent for businesses. | [Times file photo]
David Altmaier, commissioner of the Florida Office of Insurance Regulation, is expected to consider a proposal this month that could reduce workers' compensation premiums by just over 9 percent for businesses. | [Times file photo]
Published Oct. 6, 2017

TALLAHASSEE — A filing up for review this month by the Florida Office of Insurance Regulation could reduce workers' compensation premiums by just over 9 percent for businesses.

Originally proposed in August by the National Council on Compensation Insurance, the filing calls for an even larger drop for manufacturing businesses — 10.3 percent.

Workers' compensation premiums totaled about $3.8 billion in 2016, according to the NCCI. Florida Office of Insurance Regulation Commissioner David Altmaier is expected to consider the filing by the end of the month.