By Anita Byer, Setnor Byer Insurance & Risk Florida employers will have one more thing to be happy about in 2022. Workers’ compensation insurance premiums are going down…again. The Office of Insurance Regulation approved an overall average statewide decrease of 4.9 percent for workers’ compensation premiums...
Florida employers may see lower workers’ compensation insurance premiums in 2021. The National Council on Compensation Insurance is proposing a statewide average rate decrease of 5.7 percent for 2021. NCCI is a licensed rating organization authorized to submit workers’ compensation rate filings on behalf of...
In a previous article, we discussed the possibility that Florida employers may soon be paying substantially more for workers' compensation insurance. Unfortunately, this possibility has become a reality. On October 5, 2016, the Florida Office of Insurance Regulation (OIR) issued a final order approving an overall...
Workers’ Compensation (WC) provides medical, disability, rehabilitation or death benefits to employees who have suffered a job-related injury or illness. Employers are generally required by their state’s law to provide WC coverage to employees. Since most employers purchase insurance to satisfy this statutory obligation, it...