Friday, October 16, 2009

Florida workers’ comp rates to decrease 6.8%

Florida employers will get another break on workers’ compensation insurance.

The state’s insurance commissioner said Thursday he has approved a proposed rate decrease of 6.8 percent, effective Jan. 1 for all new and renewed workers’ comp policies.

The rate reduction, submitted by the National Council on Compensation Insurance, will result in an estimated $166 million in savings for employers.

It is the seventh consecutive decline in rates since the Florida Legislature passed reforms in 2003.

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