A 14.5 percent increase to state workers’ compensation rates will take effect Dec. 1 after the Florida Office of Insurance Regulation (“OIR”) filed and won an appeal to a ruling that would have voided the rate hike.
What this means is that we now go back to implementing the approved Dec. 1 rates for both new and renewal business.
For existing policyholders, the new rates will take effect at the policyholder NCCI Anniversary Rating Date. Current STAFFLINK clients will not be affected until March 1, 2017.
We will keep you updated on this issue, as there is always a chance for an appeal of the new ruling.