Florida Employers Face An Increase In Workers’ Comp Rates

A looming 17.1 percent increase in workers’ compensation insurance rates has Florida businesses worried. Proposed by the National Council on Compensation Insurance on May 27, the increase comes after 13 years of declines in rates. Before the passage of legislation in 2003 that ultimately led to a 60 percent decrease, including a 4.7 percent drop that took effect Jan. 1, Florida was second behind California among states with the highest workers’ compensation rates.