News & Updates

workers’ compensation

Supreme Court Changes Fuel Workers Compensation Discussion

Supreme Court Changes Fuel Workers Compensation Discussion

The Florida workers’ compensation insurance market presents interesting regulatory and legislative dynamics. Two Florida Supreme Court cases threatened to unravel some of the legislative reforms that helped reduce workers’ comp rates in this state. This prompted concerns among some policymakers that the legislative must revisit workers’ compensation laws to head off future rate increases for […]

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Happy New Year!

Happy New Year!

Radey wishes all of our friends a happy and prosperous new year.  As 2019 begins, Florida’s capital city will be embarking on a new era.  Governor-elect Ron DeSantis will take office next week, succeeding Rick Scott who was Governor for eight years.  Chief Financial Officer Jimmy Patronis returns, having been elected to the Cabinet office to […]

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Senate President Considers Workers Compensation Reform

Senate President Considers Workers Compensation Reform

New Senate President Bill Galvano has signaled that the Senate might take up workers’ compensation reform notwithstanding that rates have decreased in the last two years. Galvano reasons that the recent downward trend in workers’ compensation rates might not be sustainable, and in fact might be followed by future rate increases, due to the Florida […]

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OIR Approves Workers Compensation Rate Reduction

OIR Approves Workers Compensation Rate Reduction

The Florida Office of Insurance Regulation has issued a Final Order approving a 9.5% overall rate reduction and 9.8% premium level decrease for the National Council on Compensation Insurance (NCCI).  This reduction applies to new and renewal policies effective as of January 1, 2018. “I am pleased that today’s approval of NCCI’s rate filing will […]

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OIR Conducts Public Hearing on Workers’ Compensation Rates

OIR Conducts Public Hearing on Workers’ Compensation Rates

The Florida Office of Insurance Regulation is holding a public hearing today to discuss NCCI’s proposed overall statewide average workers’ compensation premium decrease of 9.6%.  The rate filing includes a statewide average rate decrease of 9.3% and a reduction of the fixed expense cost applicable to every workers’ compensation policy in Florida from $200 to […]

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Salary Credit Against Premium Tax Remains Intact

Salary Credit Against Premium Tax Remains Intact

The 2017 legislative session might be best remembered for key initiatives that did not pass–  the legislature did not address the “assignment of benefits” issue and the increases to workers’ compensation insurance rates following recent Florida Supreme Court opinions.  The legislature also did not act with respect to Florida’s premium tax credit for salaries paid to […]

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