Big News For Workers Compensation Insurance
For the past several months, insurance companies have been fighting to increase their rates for workers compensation insurance – again. The information surrounding this decision has been a bit convoluted, so we will try to break it down to be as simple as possible.
What it comes down to is the decision that will be made by the newly appointed commissioner of the Florida Office of Insurance Regulation – David Altmaier. Following two landmark cases that protected the rights of injured workers, the National Council on Compensation Insurance is trying to scare the State of Florida into passing a rate hike of nearly 20% on to employers.
The workers’ compensation insurance industry has already pulled in staggering profits of $1.8 billion over the past decade, and if David Altmaier sides with the insurance industry they stand to pull in an additional $700 million in insurance premiums per year. As if the insurance company doesn’t make enough money already, this burden will be shouldered by small businesses and will only serve to stifle job creation in the state of Florida.
More information on this case and the upcoming decision, you can visit the following link to the news article:
The workers’ compensation insurance claim process is already a difficult enough journey to navigate, and these new premiums will only make that process even more convoluted. It is imperative that you seek the counsel of a qualified, board-certified Orlando Workers Compensation attorney. With over 20 years of experience in this industry, the Law Offices of Charles H. Leo are here to help and provide you with a no obligation consultation about your particular workplace injury issue. Call us today to schedule an appointment!
