rate hike

Regulators to consider Duke request to make customers pay more

Published on June 5, 2017 in Statewide/Top Headlines by Staff Reports

State utility regulators refused Monday to let Duke Energy Florida add $4.70 to customers’ bills effective on July 1 to cover rising fuel costs. The Florida Public Service Commission, which regulates investor-owned utilities, voted instead to make the utility wait until this fall to propose a fuel-cost adjustment. Any increase would begin to take effect July 1 next year. That could mean a steeper increase next July 1, when a separate $4.25 rate increase, tied to the coming online of a new natural…

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State issues final order for workers’ comp cost increase

Published on October 6, 2016 in Statewide by Jim Rosica

As expected, state insurance regulators have issued a final order jacking up the price of worker’s compensation insurance by nearly 15 percent. The order was published Thursday. The decision approves the National Council on Compensation Insurance (NCCI) request “for an overall combined statewide average rate increase of 14.5 percent,” the Office of Insurance Regulation said in a press release. The rate hike, which applies to new and renewal policies, is effective Dec. 1. The increase continues to be bitterly opposed by business groups. The…

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Bill Herrle: Worker’s comp hike hurts small biz

Published on October 5, 2016 in Statewide by Staff Reports

NFIB/Florida Executive Director Bill Herrle on Wednesday criticized workers’ compensation insurers for pushing through a 14.5 percent rate increase this month. Herrle called the increase “massive” and said it would “undoubtedly hurt small businesses by threatening their ability to keep their doors open and employ Floridians.” The National Federation of Independent Business calls itself “the nation’s leading small-business advocacy group,” according to its website. State regulators approved a 14.5 percent increase in workers’ compensation insurance premiums. The new rates, however, are lower than ones initially proposed by…

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