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 […]
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 […]
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 […]
Florida workers’ compensation insurance surcharge in 2020.