Florida 2016 WC Rates To Be Reduced

The Florida Office of Insurance Regulation said, August 21st  2015, that it has received the 2016 Florida workers’ compensation rate filing by NCCI which proposes a statewide average premium decrease of 2.2%

This includes a statewide average rate decrease of 1.9% and a reduction of the fixed expense cost applicable to every workers’ compensation policy in Florida from $200 to $160. The new rates would become effective Jan. 1, 2016.

We have yet to see a copy of the filing, but we are told this includes an average 7.7% reduction in the Longshore rates!  If true this could be quite significant!

Watch this space for more information as it develops.