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Fla. regulator approves workers' comp rate hike

Florida's insurance regulator has issued a final approval ofan increase in workers' compensation insurance premiums by a combined averageof 14.5%.

The National Council on Compensation Insurance had requesteda hike with a combined average of 19.6%. The council received the approvalafter submitting an amended rate filing to the Florida Office of InsuranceRegulation on Oct. 4, which met the terms and conditions of an Sept. 27.  

The rate increase applies to new and renewal workers'compensation insurance policies, effective Dec. 1.