Short-Time Compensation
A disaster declaration under the Stafford Act has been declared for Florida by President Biden as a result of Hurricane Ian. Florida unemployment compensation law provides at Section 443.131(3)(a)4 that:
OIR Approves an 8.4% Decrease in Workers' Compensation Insurance Rates for 2023
Late yesterday, Governor Ron Desantis signed into law an average reduction of workers’ compensation rates in the State of Florida for policies incepted 1/1/23 or later by 8.4%.
California Written Premiums up 27% through June 30, 2022
Due to wage inflation and the post-pandemic opening of California business in 2022, workers’ compensation premiums have surged, even though rates are down 3%, in the largest economy in the US.
Florida Workers' Compensation Rates Continue to Freefall
The National Council on Compensation Insurance (“NCCI”) last week filed a rate decrease order effectively reducing workers’ compensation rates in Florida effective January 1’st 2023 by 8.4%.
