The National Council on Compensation Insurance (NCCI) has proposed a 6.9% reduction in workers’ compensation insurance rates for new and renewal policies in Florida, with the change scheduled to take effect on January 1, 2026, pending approval from the state’s Insurance Commissioner. This proposal follows a series of annual decreases, including a 1% cut in 2025 and a larger 15.1% decrease in 2024.
If approved, this would mark the ninth consecutive year that workers’ compensation rates have declined for Florida businesses. The National Federation of Independent Business (NFIB) has been active in advocating for these rate reductions as small business owners continue to face rising inflation-related costs.
A public hearing will be held by the Office of Insurance Regulation (OIR) later this month to discuss the proposal. The OIR is expected to either approve or request changes to the rate adjustment by October or early November.
