Workers comp rates going down again
TALLAHASSEE (AP) – Florida’s workers compensation rates are going down 6.8 percent due to a new law reinstating fee limits for lawyers who represent employees claiming injuries.
The law restored limits originally passed in 2003 but struck down last year by the state Supreme Court.
Insurance Commissioner Kevin McCarty on Thursday cited the new law as he approved the decrease. It’s effective Jan. 1.
McCarty had approved a 6 percent increase effective April 1 but after the new law was passed he repealed it.
The new cut brings the total rate reduction since the 2003 legislation was passed to 63 percent. Florida’s rates, once one of the nation’s highest, now are among the lowest.