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It’s Official: Florida Workers’ Comp Rates Going Up Nearly 15%

In the state of Florida, there has been an order granting approval filed by the Florida Office of Insurance Regulation to the National Council on Compensation Insurance that results in an increase of workers’ compensation to nearly 15 percent in the state. The increase encompasses both new cases and those that are renewed as of December 1, 2016.

The NCCI received approval after it submitted a rate filing to the OIR on October 4, 2016. The request met the stipulations of an order that was granted on September 27, 2016. The exact increase of workers’ compensation rates is 14.5 percent.

Originally, in June, the NCCI requested an increase of 19.6 percent for individuals in Florida who file for workers’ compensation. However, the request required two rulings from the Florida Supreme Court, which all but reversed previous reforms from 2003 that created a huge shakeup in the workers’ compensation system. In the September 27 order, the OIR did not approve the request, claiming that the increase was too great.

The new rate request addressed cases such as Castellanos v. Next Door Company and Westphal v. City of St. Petersburg, in addition to updates to the Florida Workers’ Compensation Health Care Provider Reimbursement Manual.

While the decision was expected, it was still considered a bad one for the state, as workers’ compensation rates have been reduced by 60.3 percent since 2003 as a result of reforms, according to the American Insurance Association. The American Insurance Association, however, said it would work with policymakers within the state to come up with solutions for the decision of the Court.

If you are injured while on the job in the Florida areas of Coral Springs or Boca Raton, you will require the skills of an experienced personal injury attorney. A Workers’ Comp lawyer can fight for your rights to get all the compensation you deserve following your injuries. The law offices of Evan M. Ostfeld, P.A. are there to protect your rights and will represent you to get you the most money for your injury.

Be sure to contact a personal injury lawyer at Evan M. Ostfeld’s law office at your earliest convenience.

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