Florida Work Comp Insurance Rates to Decrease in 2023

On November 7, 2022 the Florida Office of Insurance Regulation Approved an 8.4% Decrease in Workers’ Compensation Insurance Rates for 2023. This decrease will be effective for both new and renewal work comp policies. Florida Insurance Commissioner David Altmaier granted approval to the National Council on Compensation Insurance (NCCI) for a statewide overall workers’ compensation […]

Covid Pandemic Effects on Workers Compensation Insurance costs for Employers

While the impact has yet to be fully understood, it can only be assumed that Workers’ Compensation Insurance carriers who are facing rising costs from lawsuits may be forced to pass those costs on to their customers in the form of higher work comp rates. Recently there have been a number of law firms advertising […]

PEOs Prove Their Value Through the COVID-19 Pandemic

As the ramifications of the COVID-19 Pandemic swept through the USA in 2020 and 2021, small businesses who have partnered with a Professional Employer Organization (PEO) have shown a higher survivability rate than those who have not. Many businesses are finding it more challenging to attract workers and the competition for quality employees is increasing. […]

Proposed Florida Legislation for Employee Leasing – Work Comp

Florida State Senator Keith Perry Is sponsoring a new legislative proposal (SB 820) regarding workers’ compensation insurance coverage provided by employee leasing companies also known as Professional Employer Organizations or PEOs. Regardless of the good intentions of the legislation, if passed this legislation as currently drafted could create more opportunities for workers’ comp fraud. Many […]

California Makes Retirement Plans Mandatory for Employers

The State of California is implementing a phased in mandatory retirement program to improve workers access to retirement savings tools. Employers with five or more employees in California must either offer a qualified employer-sponsored retirement plan or participate in the state’s Individual Retirement Account (IRA) program known as CalSavers, effective June 30, 2022. Qualified Employer-Sponsored […]