According to the release by NCCI, “NCCI estimates that the impact of Westphal will be an increase in overall Florida workers’ compensation system costs of +2.2%.”
If the rate filing is approved as filed, increasing rates by 19.6 percent, Florida will have the highest premiums in the Southeast.
The Florida Chamber believes the Florida Legislature must address this rate increase to avoid harming Florida’s growing economy and private-sector job growth.
The Florida Chamber’s Workers’ Compensation Task Force has been engaging Florida’s highest elected leaders since last year, preparing them for this outcome, and advocating for a legislative solution. In addition to the Florida Chamber’s Workers’ Comp Task Force meetings, eight regional meetings have already taken place, and our local chamber federation is actively engaged – assessing the impact it will have on businesses in their communities and joining efforts toward solutions.
The Florida Chamber has a 13-year history of leading efforts to help lower workers’ comp rates by nearly 60 percent, and is committed to leading the charge moving forward to ensure affordable rates despite personal injury trial lawyer efforts to make more money off the system.
“It’s clear that Florida’s workers’ comp system is under attack,” Wilson added. “A legislative solution will help bring certainty back to Florida’s job creators and injured workers that Florida’s workers’ comp system is working.”