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Assessment Rate Set for Administrative Trust Fund

Wednesday, August 9, 2023 | 0

The Florida Department of Financial Services set the assessment rate for the Workers’ Compensation Administration Trust at 0.79% for calendar year 2024. The assessment rate is applied to net premium collected by carriers and to the premium calculated by the Department of Insurance for self-insured employers. Net premiums must be adjusted to include premium credits or discounts that each company has applied to its deductible policies.  Section 440.51(1) of the Florida Statutes requires the Department of Financial Services to estimate the amount necessary for the administratio...

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