Florida Chamber Seeking Feedback: Workers’ Comp Rate Finalized- Total Costs Resulting From Court Rulings to Top $1.5 BillionOctober 18th, 2016 by gainesvillechamber
It’s official – state regulators last week approved to increase workers’ compensation rates by 14.5 percent, effective December 1, 2016 for new and renewal policies. That’s because the Supreme Court recently declared portions of Florida’s workers’ comp system unconstitutional, and in one case, said a plaintiff trial lawyer should receive $38,000 in attorney fees for a case in which the injured worker was awarded only $800. That’s $800 for the injured worker and $38,000 for the trial lawyer. This accounts for nearly two-thirds of the rate increase.
That’s why the Florida Chamber of Commerce’s Workers’ Compensation Task Force is working on a legislative solution with the Governor and Representatives Keith Perry and Dennis Baxley right here in the North Central Florida area.
How will a 14.5 percent workers’ comp rate increase impact you?
The Florida Chamber of Commerce warned Florida’s business community that this could happen…and now it has.
Please take this quick survey to help us tell the story of what a 14.5 percent workers’ comp rate increase means to your community