Workers’ Comp Rates Drop Average of 4.7 Percent for 2016

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.

• Pending Court Cases Could Send Workers’ Comp Rates the Wrong Direction
• Did You Know Workers’ Compensation Rates Have Dropped 60 Percent Since 2003?
• Viewpoint: Keep Florida’s Workers’ Comp System Working
• LETTER: Pending Florida Supreme Court Cases Could Make Florida Less Competitive

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