In neighboring news:

The Florida Office of Insurance Regulation issued its latest Workers’ Compensation Annual Report, saying that despite hand-wringing over rising workers’ compensation rates, the Florida market is stable. The report explains that the workers’ comp market in the state “is served by a large number of independent insurers and [that] none [has] sufficient market share to exercise any meaningful control over the price of workers’ compensation insurance.” However, department officials did acknowledge the state Supreme Court’s decision in Castellanos, noting that attorney fee restrictions “were a significant factor in the decline of workers’ compensation rates and continues to impact them,” but that “most of the improvements resulting from legislative changes may have been realized, as there were four rate increases from 2010 to 2014 after seven years of decreases following the 2003 reforms.”

Read further coverage from Florida Politics here.

Download the entire report here: FL_2016WorkersCompensationAnnualReport

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