Construction Worker (File) Florida businesses are likely to see a slight 1% decrease in workers' compensation insurance rates starting January 1,
Florida businesses are likely to see a slight 1% decrease in workers’ compensation insurance rates starting January 1, 2025, according to a proposal by the National Council on Compensation Insurance (NCCI).
This continues a trend of lower rates in recent years, attributed to a healthy system, stable medical costs, and decreasing claims.
However, a new law increasing maximum reimbursements for physicians limited the rate decrease, which would have been 6.4% without the law’s impact.
The final decision on the proposal rests with the state Office of Insurance Regulation.
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