A rate change affecting most of Florida’s Workers’ Compensation Classification Codes will become effective on January 1, 2019.
- While the rate change for each code will differ, the average rate decrease for all classes is 13.8%.
- Consistent improvement in loss experience is the primary driver underlying this rate decrease. More specifically, a long-term decline in claim frequency has continued to more than offset moderate increases in claims severity.
- Your rates will change on your Workers’ Compensation Policy Effective Date, rather than being effective for you on 1/1/19.
- Recent Rate Changes:
2019 – January: -13.8%
2018 – June: -1.8%
2018 – January: -9.5%
2016 – December: +14.5%
2016 – January: -4.7%
- Locate your Classification Codes in the linked attachment to see how your rates were affected.
We hope you find this information helpful. If we can be of service to you, please do not hesitate to contact us.