NFIB Applauds Proposed Workers’ Comp Rate Reduction for Florida Businesses

August 25, 2023

'… this proposed rate cut sounds like a win-win for Florida’s small business owners and their employees'

NFIB Applauds Proposed Workers' Comp Rate Reduction for Florida Businesses

NFIB State Director Bill Herrle today applauded the National Council on Compensation Insurance’s proposed 15.1% workers’ compensation rate deduction for Florida businesses. The proposed rate cut was filed Thursday with the Florida Office of Insurance Regulation. “This proposed rate cut would relieve the otherwise skyrocketing inflationary costs for Florida small business owners,” Herrle said. Earlier this month, the NFIB Small Business Optimism Index showed that 21% of small business owners rank inflation as the single most important problem when it comes to operating their business. “Hiring workers is also a huge problem for small business owners right now,” Herrle said. “Small business owners are increasing wages to compete for workers. The Optimism Index survey says 38% of small business owners nationwide are raising compensation. Workers’ comp premiums are directly tied to payroll, so this proposed rate cut sounds like a win-win for Florida’s small business owners and their employees.”

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State:

Florida

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