{"id":52678,"date":"2025-11-19T13:51:06","date_gmt":"2025-11-19T13:51:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/52678\/"},"modified":"2025-11-19T13:51:06","modified_gmt":"2025-11-19T13:51:06","slug":"workers-comp-rates-to-drop-by-6-9-next-year-tallahassee-reports","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/52678\/","title":{"rendered":"Workers\u2019 Comp Rates to Drop by 6.9% Next Year \u2013 Tallahassee Reports"},"content":{"rendered":"

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By Florida Phoenix Staff<\/a><\/p>\n

Insurance Commissioner Mike Yaworsky ordered a 6.9% decrease in workers\u2019 compensation rates for the coming year. The reduction applies to both new and renewal policies effective Jan. 1, 2026.<\/p>\n

\u201cI am pleased to approve a substantial rate cut of 6.9% for Florida\u2019s workers\u2019 compensation policies this upcoming year. This rate decrease directly translates to reduced operating costs for businesses, encouraging investment and growth throughout Florida\u2019s economy,\u201d Yaworsky said in a prepared statement Monday.<\/p>\n

\u201cThis also marks the ninth consecutive year of rate decreases for workers\u2019 compensation policies \u2014 more evidence of Florida\u2019s success in managing risk and maintaining a competitive insurance environment.\u201d<\/p>\n

Workers\u2019 compensation is a no-fault system that aims to protect employers from getting sued by injured employees and provide workers injured on the job with the care they need to return to work. Employers are required to provide compensation for lost wages if an employee misses more than eight days of work due to an injury.<\/p>\n

Most employers in Florida are required to carry workers\u2019 compensation insurance but there are exceptions for businesses with four or fewer employees and for construction companies with four or fewer officers. While those firms aren\u2019t mandated to carry the coverage, they are required to file for exemptions with the state.<\/p>\n

The 6.9% rate reduction matches the recommendation put forth by the National Council for Compensation Insurance\u00a0earlier this year<\/a>. NCCI is the licensed rating organization in Florida, authorized to suggest workers\u2019 compensation rates. NCC\u2019s filing is a recommendation only. Florida\u2019s insurance commissioner is charged with setting the rates.<\/p>\n

The Oregon Department of Consumer and Businesses Services earlier this year reviewed employers\u2019 workers compensation premiums in 50 states and Washington, D.C. The\u00a0analysis<\/a>\u00a0ranked Florida No. 30 in the nation for workers\u2019 comp costs in 2024. That was an improvement from the previous analysis of 2022 premium data, when Florida ranked No. 28 for workers\u2019 comp premiums.<\/p>\n

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