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Florida OKs 6/1% Workers' Compensation Rate Hike

Late Friday afternoon (October 26, 2012), Florida Insurance Commissioner Kevin McCarty announced that the 2013 rates for workers’ compensation insurance will increase an average of 6.1% as compared to current rates. McCarty notes in the order that rates are still 56% lower than they were in 2003 when Florida’s rates were among the highest in the country. The primary cost drivers remaining in Florida’s workers’ compensation system are related to the ever rising cost of health care delivery.

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