Choose Between Paying Higher Workers’ Comp Rates and Hiring New Employees
By: Carolyn Johnson
19.6% Workers’ Comp Rate Increase Could Impact You
It’s time for a legislative solution.
Today, the National Council on Compensation Insurance (NCCI) announced a recommended 19.6 percent workers’ comp rate increase, proposed effective beginning October 1.
If the rate filing is approved as filed increasing rates by 19.6 percent, Florida will have the highest premiums in the Southeast.
The increase results from two recent Florida Supreme Court rulings that deemed Florida’s attorney fee provision unconstitutional (Castellanos v. Next Door Company), and declared the current cap for temporary total disability (104 weeks) unconstitutional (Westphal v. City of St. Petersburg). According to the release by NCCI, “NCCI estimates that the impact of Westphal will be an increase in overall Florida workers compensation system costs of +2.2%.”
The Florida Chamber believes the Florida Legislature must address this rate increase to avoid harming Florida’s growing economy and private-sector job growth.
The Florida Chamber’s Workers’ Compensation Task Force has been engaging Florida’s highest elected leaders since last year, preparing them for this outcome, and advocating for a legislative solution. We need your voice to help find a solution. Learn how you can join the Florida Chamber’s Workers’ Comp Task Force.
Read the Florida Chamber’s full release on today’s workers’ comp recommendation.
Read Mark Wilson’s, President and CEO of the Florida Chamber, article in the Naples Daily News, Let’s Keep Florida’s Workers’ Comp System Working.