The workers' compensation insurance industry is seeking a nearly 20 percent rate hike, following a pair of recent Florida Supreme Court rulings and a change in state law. The National Council on Compensation Insurance, which submits rate proposals for Florida's workers' compensation insurance industry, on Thursday filed an amended rate proposal that would boost the average rate by 19.6 percent, up from an increase of more than 17 percent proposed in May. If approved by the Office of Insurance Regulation, the change would go into effect Oct. 1. State regulators will hold a public hearing on the rate request on Aug. 16. The Florida Chamber of Commerce quickly pounced on the amended filing, saying the rate increases could potentially jeopardize the state's job growth. “Small businesses create two of every three jobs in Florida, and a workers' comp rate increase as significant as this could force these businesses to choose between paying higher workers' comp rates and hiring new employees,
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