Florida Considering Double-Digit Workers’ Compensation Rate Decrease

Post on behalf of Thomas J. Ueberschaer PA on Tuesday September 25, 2018

For many who find themselves in the unfortunate situation of having been seriously injured on the job, workers’ compensation is a vital support that helps them maintain their lives and recover. Unfortunately, individuals who currently receive this important assistance may find their support reduced in the coming year.

The Florida Office of Insurance Regulation is scheduled to hear a proposal from the National Council on Compensation Insurance (NCCI), which traditionally proposes annual rates for workers’ compensation, on October 17th. Reports indicate that the NCCI will propose a 13.4 percent reduction in benefits.

According to the NCCI, their recommended decrease is justified by trends across the country.

“Consistent improvement in loss experience is the primary driver underlying the filing. More specifically, the long-term decline in claim frequency has continued to more than offset moderate increases in claim severity,” they continue. “This has resulted in continued downward pressure on the overall average rate level need and is consistent with trends across most NCCI states.”

This proposed decrease follows what many may fear is an emerging trend in rate reduction proposals from NCCI as they recommended a 9.5 percent rate decrease for 2018. Some argue that NCCI is able to make such recommendations because they do not consider the lasting impact of legal decisions in the state.

Were you injured in the workplace?

Has a serious workplace injury prevented your ability to earn an income? Have you or a loved one had a workers’ compensation claim unfairly denied? Employers have a responsibility to provide safe work environments for their workers. When employers fail to meet their legal obligations, they should be held responsible for the injuries that results from their negligence.

Contact us for a free consultation.

Our firm has decades of experience fighting for the rights of injured workers and we pride ourselves on the personal representation we are able to provide our clients. If you or a loved one have questions about a potential claim, contact our firm today for a free initial consultation by messaging us on our site or calling us 1-800-435-8778.

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