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True cost of workers’ compensation rulings pegged at $1.3 billion

February 2, 2017

Florida Supreme Court rulings in workers’ compensation cases will boost employers’ costs by 35.4 percent, adding $1.3 billion to the cost of doing business in the state, an economist warned Thursday during the Florida Chamber of Commerce’s Insurance Summit.

 

“This breaks into a $929 million annual increase in premiums for the insured employers and a $361 million increase in claims costs for the self-insured employers,” said Mike Helvacian, of the National Center for Policy Analysis.

 

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