Good news of employers in the workers compensation arena in Florida – rates are going down. However, this does little for those injured in work-related accidents who need workers' compensation benefits.
According to WTSP Tampa Bay 10 News, Florida Insurance Commissioner Kevin McCarty recently announced that he was approving an overall 5.2 percent rate drop for insurers that provide coverage for on-the-job injuries. The rate change will take effect on Jan. 1. This marks the first time that workers' compensation insurance rates have dropped in the last four years.
The workers compensation carriers may not be too happy. Initially, the National Council on Compensation Insurance (a data collection agency owned by insurance companies) had recommended a rate drop of 3.3 percent but McCarty's office rejected the request.
This news is good, but we cannot ignore the dwindling workers' compensation benefits legitimate injured workers are entitled to in exchange for the waiver of their rights to sue the employer for negligence. The Florida Legislature needs to look at this, but it is unlikely anything good will happen for injured workers in Florida's workers' compensation system for another 4 years.
Personal Injury Attorney Matthew Noyes represents those injured in workers' compensation claims as well as car accidents, motorcycle crashes, bicycle accidents, pedestrian accidents and other types of personal injury matters. His Clearwater law firm – Perenich Caulfield Avril Noyes – is one of the oldest personal injury law firms in Pinellas County. Call Attorney Matthew Noyes now at 727-796-8282 or simply click here to schedule a free case consultation.