Florida Court Cases May Drive Up Workers' Compensation Rates

Florida workers’ compensation insurance premiums may rise by up to 19.6 percent
starting in October 2016, due, in large part, to recent Florida Supreme Court decisions
that struck down portions of the state’s workers’ compensation law.
The National Council on Compensation Insurance (NCCI) proposed the nearly 20 percent
rate jump through requests filed with the Florida Office of Insurance Regulation (FOIR)
on May 27, 2016, and June 30, 2016. If approved, the higher rates will apply to all
policies in effect as of Oct. 1, 2016, as well as to all new, renewed and additional
policies issued on or after that date. Interested parties will have an opportunity to
comment on the proposed increases at a public hearing on Aug. 16, 2016.

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