Workers’ Comp Rates pegged to go up 14.5 percent

Pointing to a major Florida Supreme Court ruling on attorneys’ fees, state regulators issued an order Tuesday that said workers’ compensation insurance rates should increase 14.5 percent starting later this year.

The long-awaited order by the Florida Office of Insurance Regulation trimmed a proposal that called for increasing rates 19.6 percent. Nevertheless, business groups immediately warned that a 14.5 percent increase would hurt employers.

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