This rate was and remains higher than what employer groups wanted to hear because they still see 14.5% as a rather significant rate hike. The OIR’s order was only contingent upon the NCCI’s review and compliance, which was promptly completed and submitted by October 4. As such, the order took effect on December 1 as mandated by the Florida Supreme Court’s ruling.
Now, the Florida Chamber of Commerce is one of several employer groups demanding a fiscal solution to this 14.5% hike in workers’ compensation rates that has been in effect for three months as a result of the OIR’s and NCCI’s responses to the Supreme Court rulings. Senator Bradley only gives them more bad news, however, saying that the objective now is to refrain from letting these compensation insurance rates change any more than they already have.
In Sen. Bradley’s call for stability, he argues, “Our workers’ comp system is kind of middle-of-the-pack when it comes to the rate levels, and they’ve been reduced significantly over the years.” He goes on to say that, within three weeks, he expects his chamber to file comprehensive legislation on the issue. Although, he also makes the concession that it may require more than a single session to overhaul the system.
