Florida Workers' Compensation Rates Drop

By: Associated Press
By: Associated Press

Florida workers' compensation rates, once among the nation's highest, are dropping for the sixth time in the last five years.

Insurance Commissioner Kevin McCarty approved the cut Wednesday, but warned that a Florida Supreme Court ruling issued last week may
send rates up again.

The new reduction will cut rates by 18.6 percent, and cumulatively by 60 percent since the passage of a 2003 overhaul. That is expected to save employers more than $610 million.

However, the Florida high court has struck down a major
component of that law - the part capping lawyer fees.


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