Workers’ Comp Rates Drop Average of 4.7 Percent for 2016

By: Carolyn Johnson

The Office of Insurance Regulation (OIR) today approved an average overall rate level decrease of 4.7 percent on workers’ compensation insurance, effective January 1, 2016. This marks the second year in a row that workers’ comp rates have decreased and rates have dropped nearly 60 percent over the last decade, thanks to the work of the Florida Chamber and the business community.

What You Need To Know About Workers’ Comp

While Florida’s workers’ comp rates are moving in the right direction, three pending cases before the Florida Supreme Court could increase workers’ comp rates significantly depending on the decision. Below, we have the Florida Chamber’s latest information on workers’ comp.

Lend your voice- sign our resolution by contacting gblose@flchamber.com.