The Florida Office of Insurance Regulation is approving a 9.5 percent drop in workers’ comp insurance rates. The new rates are scheduled to take effect January 1st, 2018. NCCI initially asked regulators to approve a slightly smaller 9.3 percent rate decrease. The steep drop is widely seen as a correction for a significant rate hike last year that resulted from a series of Florida Supreme Court decisions involving attorney fees and benefit caps.
Read more via the Miami-Herald here.