News & Updates

Office of Insurance Regulation

Study Shows Florida Workers Comp Rates Rising Compared to Other States

Study Shows Florida Workers Comp Rates Rising Compared to Other States

| Written By: Travis Miller | Insurance

The Florida Office of Insurance Regulation cited a recent Oregon Department of Consumer & Business Services (DCBS) study showing that Florida has jumped 11 spots (from 40th to 29th) among the most expensive state for workers’ compensation insurance. The study compared each state’s rates to the national median rate of $1.88 per $100 of payroll.  Notably, however, Florida’s […]

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OIR Approves Citizens Rates

OIR Approves Citizens Rates

| Written By: Travis Miller | Insurance

The Office of Insurance Regulation has approved rates for Citizens’ homeowners and dwelling programs.  The average rate increase is 10.8% for homeowners insurance and 8.8% for the dwelling program.  Rate increases for sinkhole coverage are higher (by percentage), although less than Citizens’ indicated rates. The OIR approved the rates through an Order (attached).  Citizens’ ratemaking […]

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