Commissioner Approves 1% Rate Cut

Florida Insurance Commissioner Mike Yaworsky issued a final order approving an average 1% rate decrease for policies incepting on or after Jan. 1. “I’m pleased to announce that Florida businesses will see a further reduction in workers’ compensation rates for the eighth consecutive year," Yaworsky said in a statement. "Following historic legislative reforms in this space, it is abundantly clear that the workers’ compensation market in Florida is stable and competitive. A further reduction in workers' compensation rates will assist new and existing busines...