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Florida Worker’s Comp Rates Reduced
January 1, 2016
Florida employers will see overall workers-compensation insurance rates drop 4.7 percent as of January. 1, according to an order issued by the state Office of Insurance Regulation.
The National Council on Compensation Insurance, while files proposed rates each year for insurers, initially called for a 1.9 percent decrease. The Office of Insurance Regulation rejected that proposal and said overall rates should go down 5.1 percent. But at the request of the organization known as NCCI, regulators looked again at some factors used in setting rates. That led to the order for the 4.7 percent decrease in 2016.
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One Response to “Florida Worker’s Comp Rates Reduced”
Coincidentally, Employees injured on the job will also be receiving 4.7% less in benefits and 4.7% less in administrative cooperation from Workers Compensation Insurance Adjusters.