Please be advised that, due to recent Florida Supreme Court case rulings, the Florida Office of Insurance Regulation has proposed a significant rate increase for Florida workers’ compensation insurance. The proposed average rate increase will be between 17.1% and 19.6%, and the increase will be effective October 1, 2016. Additionally, a second increase is expected after the first of the year.
Please contact your insurance provider to ensure you’re aware of how these rate increases will affect your workers’ compensation premiums. To avoid problems in the future, please be sure to reflect these rate increases in all work that you are currently bidding.
For the latest information and updates from Link Construction regarding this workers’ compensation premium increase, please click here to refer to our Facebook post.