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Florida Approves 8.4% Decrease in Workers’ Comp Rates Without Asking for More

The Florida insurance commissioner has approved a decrease in overall workers’ compensation rates for 2023, and he did not demand a sharper decrease from actuaries.

The National Council on Compensation Insurance in August recommended an 8.4% average cut in rates for the voluntary market, for most classifications.

The Florida Office of Insurance Regulation on Monday announced that Commissioner David Altmaier had approved the reduction, which is the seventh straight decrease for Florida.


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