Florida Workers Comp 29th Most Expensive

Florida’s workers compensation insurance rates have climbed from 40th to 29th most expensive in the nation over the last two years.

That 11-point increase was reported in a study released by the Oregon Department of Consumer & Business Services. It issues a comparison of rates in the 50 states on Jan. 1 of each even-numbered year.

The Florida Office of Insurance Regulation noted that the state’s rate of $1.82 per $100 of payroll is still below the national median of $1.88.

Florida Insurance Commissioner Kevin McCarty said the state must be proactive in considering legislation to keep its rates nationally competitive.

Topics Florida Workers' Compensation