Market Stable and Prices Down, but OIR says Impact of '03 Reforms is Losing Steam

Voluntary market rates in Florida dropped 60.3% since the 2003 reforms, but the impact of changes lawmakers made more than 10 years ago is petering out and likely "has reached its limit," according to the state Office of Insurance Regulation's 2015 annual report. Overall, OIR characterized the state's workers' compensation market as "competitive." The agency said the residual market is small, suggesting the voluntary market is taking up most of the demand. And while it cautions there is some risk with the growth in usage of professional employer organizatio...