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Assessment Lowered 22.4% on Comp Administration Trust Fund

Friday, August 4, 2017 | 682 | 0 | 0 min read

The Department of Financial Services will reduce the assessment rate for the Workers’ Compensation Administration Trust Fund from 1.25% to 0.97%, effective Jan. 1, 2018. Subsection 440.51(1) of the Florida Statutes requires the agency to estimate in advance the annual amount necessary to administer the fund. The total expenses of administration must be prorated among the carriers writing compensation insurance in the state and among self-insurers, the statute says. The assessment, due and paid quarterly, must not exceed 2.75%, 440.51(b) states. For more information, call Gene Smith, ...

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