Florida Rates Affect State's Competitiveness

According to Actuarial & Technical Solutions Inc., a Ronkonkoma, N.Y.-based insurance industry consulting business, Florida's workers' comp rates are higher than those in any other state except California, and economic development officials say the high costs are keeping businesses from moving to the area. Nancy Engle, executive director of the Manatee County Economic Development Council, told the Sarasota Herald-Tribune that because work comp is a significant portion of operating costs that Florida's rates are adversely affecting the state's ability to attract new business.According to the T...