OIR Approves a 6.6% Decrease to Florida’s Workers’ Compensation Insurance Rates

TALLAHASSEE, Fla. – Florida Insurance Commissioner David Altmaier has issued a Final Order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall decrease of 6.6% for Florida workers’ compensation insurance rates. This applies to both new and renewal workers’ compensation insurance policies effective in Florida as of January 1, 2021.

“My administration remains committed to fully supporting Florida businesses, and we will continue to ensure Florida’s job creators are well positioned during our state’s economic recovery. This decrease in workers’ compensation rates will serve as welcome relief for our employers,” said Governor Ron DeSantis.

CFO Jimmy Patronis said, “The statewide overall 6.6 percent workers’ compensation insurance rate decrease is a major win for Florida businesses as we work to rebuild our economy and ensure job creators have the ability to get Floridians back to work. As your CFO, one of my top priorities is to attract job creators and innovators to the state of Florida and this rate reduction is yet another reason why the Sunshine State is where businesses come to thrive. Our small businesses are the backbone of our economy and every Florida community benefits when they see cost savings. This is yet another example of why there is no better place to live, work, and run a business than right here in Florida.”

“We are pleased to see continued decreases in workers’ compensation rates for Florida businesses. Florida businesses have seen unprecedented challenges this year and lowering these costs will help increase stability for employers and ultimately, Florida’s families,” said Attorney General Ashley Moody.

“Agriculture is a major component of Florida’s economy and the decrease in workers’ compensation rates is good news for Florida farmers. This relief provides a very real benefit at a time when agriculture’s efforts are more important than ever,” said Agriculture Commissioner Nikki Fried.

“This further reduction in workers’ compensation insurance rates for 2021 reflects the continued commitment to safety and innovation in Florida workplaces. The decline in workers compensation claims, which is reflected in lower rates, is a positive indicator for Florida businesses,” said Insurance Commissioner David Altmaier.

Commissioner Altmaier approved the NCCI amended rate filing, which met the stipulations of the Order on Rate Filing issued by Commissioner Altmaier on October 30, 2020. For more information about the NCCI public hearing and rate filing, visit the OIR NCCI Public Rate Hearing webpage.? 

This article originally appeared on Washington County News: OIR Approves a 6.6% Decrease to FloridaÂ’s WorkersÂ’ Compensation Insurance Rates

Leave a Reply

Advertising Options

Reach your target audience with our newspaper advertising options. Our publication has a wide readership, making it the perfect platform to promote your business or event.

To inquire about advertising rates and options, please fill out the form below and a member of our team will be in touch with you shortly.

Take advantage of our high readership and targeted demographics to promote your business to the right people. From print ads to online banners, we have a variety of options to suit your needs and budget.

Don’t miss out on this opportunity to reach your target audience. Contact us today to learn more about our advertising options.

E-Mailing List Subscription

Stay informed with our email mailing list! Sign up today and never miss a beat on the latest news and events in your community.

To join our e-mailing list, simply fill out the form below. We’ll send you a weekly digest of the top stories, delivered right to your inbox.

By signing up, you’ll be the first to know about breaking news, upcoming events, and special promotions. Plus, you’ll be eligible for exclusive subscriber-only content and offers.