Florida Workers’ Comp. Rates to Decrease 6.8%
Florida employers are getting a break on workerscompensation insurance. The state’s insurance commissioner said on Thursdaythat he has approved a proposed rate decrease of 6.8 percent. The decreasetakes effect January 1 for all new and renewed workers’ compensation policies.
The National Council on Compensation Insurance, whichsubmitted the rate reduction, expects the decrease to result in around $166million in savings for employers.
The Florida Supreme Court ruled last October that claimantattorneys were entitled to “reasonable fees” in workers compensation insurancecases. Critics of the ruling worried that the decision would result in higherpremiums for businesses. Insurance Commissioner Kevin McCarty said in a release“If it were not for the legislation, the workers’ compensation industry inFlorida would likely have proposed rate increases instead of decreases in2010.”
If you have been injured in the workplace, please contactthe Raleigh Workers’ Compensation Lawyers of Scudder & Hedrick, PLLC at919-851-3311.