Florida business up in arms about 14.5 percent workers comp rate hike
Florida employers knew a significant increase in workers’ compensation premiums was coming. That didn’t soften the blow that landed Tuesday, when the Florida Office of Insurance Regulation approved a 14.5 percent average premium hike on new and renewal policies, effective Dec. 1. “Since the decision by the Florida Supreme Court on the Castellanos case to return to hourly rate attorneys fees, we knew it was only a matter of time before a significant workers’ compensation rate increase was approved, ultimately…