Top Florida Stories of 2016: Workers’ Comp Market in Turmoil
It would seem the biggest story would be the end of Florida’s hurricane drought as the state got hit by not one, but two hurricanes this year, the first hurricanes for Florida since 2005.
But those catastrophes weren’t the only storms Florida experienced in 2016. Florida Supreme Court decisions that upended the state’s workers’ comp system and subsequent rate hikes; the effect of ongoing abuse of assignment of benefits; the continuing battle over flood insurance rates; and the state’s first new insurance commissioner in 13 years, were all major headlines throughout the year.
Those in the industry say each of these stories will have a significant impact on the state going into 2017.