In other neighboring news:

The Florida Office of Insurance Regulation (FLOIR) has released the 2015 Workers’ Compensation Annual Report to the Florida Legislature. According to a statement from the FLOIR, analysis shows that the market remains competitive in the state, and that private insurance companies dominate the market, writing more than 95 percent of workers’ compensation coverage. FLOIR goes on to tout the 2003 reforms in the state, citing a 60.3 percent cumulative rate reduction since they passed. However, it also notes that “Although these reforms continue to benefit the market overall, it is likely their impact may have reached maximum effectiveness. Several pending court cases, which could negatively affect the workers’ compensation market by leading to increased rates and the state’s inability to retain its competitive advantage in this area, are being closely monitored by the Office.”

Read the full report here. Read further coverage from Business Insurance here.

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