Florida to evaluate 1% workers comp rate increase

Florida employers would see a 1% workers compensation rate increase beginning Jan. 1 under a new rate filing from the National Council on Compensation Insurance Inc.

Florida’s Office of Insurance Regulation announced the filing on Friday and said it will conduct a public hearing in early October to help evaluate the rate request’s potential impact on employers and the state’s workers comp insurance market.

If adopted, Florida’s workers comp rates would still be 55.9% below their level when the state passed reforms in 2003, the Office of Insurance Regulation said.